The bill proposes significant amendments to Idaho's insurance laws, primarily focusing on the repeal of several sections related to conversion plans and the small employer carrier reinsurance program. It repeals Sections 41-2210D, 41-4708B, 41-4709, 41-4710, 41-4711, 41-4712, and 41-4713, which pertain to conversion plans and various aspects of small employer health benefit plans. Additionally, the bill amends several sections, including 41-4703, 41-4706, 41-5206, 41-5210, and 41-5501, to remove outdated definitions, correct code references, and make technical corrections. The amendments aim to streamline the regulatory framework governing small employer health insurance, ensuring that premium rates are consistent and reflective of objective differences in plan design.

Furthermore, the bill updates definitions related to health benefit plans, including "actuarial certification," and clarifies terms associated with small employer carriers. It mandates that small employer carriers disclose how premium rates are established or adjusted based on claims costs and health status, while also requiring annual actuarial certifications to ensure compliance with sound actuarial principles. The bill establishes a governing board for the Idaho individual high risk reinsurance pool, consisting of ten members with specific representation, and outlines the appointment process and terms of service. It declares an emergency, making the act effective on July 1, 2025, with the overall goal of improving transparency and fairness in the health insurance market for small employers and individuals in Idaho.

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