Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee hears competing views on taxing nonprofit insurers’ surplus to fund premium help
Summary
Supporters told the Appropriations Committee that taking a small portion of nonprofit insurers’ excess surplus could expand Cascade Care premium assistance; insurers and business groups warned the measure would destabilize nonprofit plans and raise costs for customers. The committee heard staff fiscal estimates but took no final vote on the bill.
Supporters and opponents presented sharply different pictures of House Bill 2073 at an Appropriations Committee hearing. The bill would require nonprofit health carriers to submit surplus amounts to the Office of the Insurance Commissioner (OIC) and authorize the OIC, beginning July 1, 2026, to deem a carrier’s surplus "excessive" if it exceeds 600% of its risk-based capital (RBC) requirement and then require payment of 3% of that determined excess into the state health care affordability account to fund Cascade Care premium assistance.
In a staff briefing, Megan Morris, staff to the committee, said the OIC would make the annual determination and listed procedural safeguards including the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
