The proposed bill establishes a state health insurance exchange in Arizona, repealing the existing section 1-271 of the Arizona Revised Statutes. It introduces a new framework for facilitating the purchase and sale of qualified health plans, aiming to reduce the number of uninsured individuals and provide a transparent marketplace for health insurance. The bill outlines the roles and responsibilities of a newly formed Board of Directors, which will oversee the exchange, including the appointment of members with expertise in health insurance and healthcare administration.

Key changes from current law include the establishment of the exchange and its governing board, which will consist of both appointed members and nonvoting representatives from relevant state departments. The bill mandates the board to adopt operational rules, submit regular reports to state officials, and ensure compliance with federal law. Additionally, it sets a termination date for the board and the exchange in 2034, with provisions for initial member terms and subsequent appointments. Overall, the bill aims to enhance access to health insurance in Arizona while aligning with the Affordable Care Act.

Statutes affected:
Introduced Version: 1-271, 41-3034.01, 20-3702, 20-3703, 20-3704, 20-3705, 20-3706, 20-3707