The bill proposes significant amendments to Idaho's insurance laws, particularly focusing on the repeal of sections related to conversion plans and the small employer carrier reinsurance program. It repeals Section 41-2210D concerning conversion plans and Sections 41-4708B through 41-4713, which address various aspects of small employer health benefit plans and the associated reinsurance program. The bill also amends several sections, including 41-4703, 41-4706, and 41-5501, to remove outdated definitions, correct code references, and make technical corrections. Key amendments include the revision of definitions related to small employer carriers and health benefit plans, ensuring clarity and consistency in the law, such as the updated definition of "premium" to include all payments made by small employers and eligible employees for health coverage.

Additionally, the bill updates the Idaho individual high risk reinsurance pool by restructuring its governing board and clarifying its focus on individual coverage. It deletes references to the Idaho small employer health reinsurance program and introduces the term "individual" to emphasize this focus. The definition of "dependent" is corrected, and the term "plan of operation" is defined to specify the operational framework for the pool. The bill establishes the Idaho individual high risk reinsurance pool as an independent public body with a governing board consisting of ten members representing various stakeholders. The bill is set to take effect on July 1, 2025, following an emergency declaration.

Statutes affected:
Bill Text: 41-2210D, 41-4703, 41-4706, 41-4707, 41-4708B, 41-4709, 41-4710, 41-4711, 41-4712, 41-4713, 41-5206, 41-5210, 41-5501, 41-5502