The proposed legislation, General Assembly Substitute Bill No. 807, aims to eliminate asset limits for beneficiaries of the HUSKY C health program over a five-year period, starting July 1, 2025. The bill outlines a gradual increase in asset limits for both unmarried and married individuals. For the fiscal year ending June 30, 2026, the asset limit for unmarried individuals will rise from $1,600 to $10,000, and for married individuals from $2,400 to $15,000. This increase will continue annually, reaching $100,000 for unmarried individuals and $150,000 for married individuals by the fiscal year ending June 30, 2029. By the fiscal year ending June 30, 2030, the bill proposes to eliminate asset limits entirely for both groups.

Additionally, the bill allows individuals whose income exceeds the HUSKY C program limits to qualify by spending down their excess income on medical bills. The Commissioner of Social Services is required to report annually on the number of eligible individuals and any increased costs to the state resulting from these changes. The bill replaces the existing asset limits with the new provisions outlined, effectively removing the previous restrictions as the asset limits are phased out.