The proposed legislation, General Assembly Raised Bill No. 7117, aims to implement recommendations from the Insurance Fund Working Group by modifying the public health fee structure for domestic insurers and health care centers in Connecticut. The bill repeals the existing subsection (b) of section 19a-7p and introduces new provisions that require these entities to pay an annual public health fee to the Insurance Commissioner, which will be deposited into the Insurance Fund. Starting July 1, 2025, the bill mandates a gradual reduction of the public health fee deposited into the Insurance Fund by one-fifth each fiscal year, with the remaining amount redirected to the General Fund. This reduction will continue until July 1, 2029, when the entire fee will be allocated to the General Fund.

Additionally, the bill establishes reporting requirements for insurers and health care centers regarding the number of insured or enrolled lives in the state, excluding certain populations such as Medicare recipients. Failure to submit timely reports will incur a daily late fee, and discrepancies in reported numbers may result in civil penalties. Furthermore, the bill allows for the transfer of payments for the Office of Health Strategy from the Insurance Fund to the General Fund over a five-year period, starting July 1, 2025, with adjustments to assessments on domestic insurance companies as necessary.