The bill proposes extensive amendments to Idaho's insurance laws, particularly targeting 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 are associated with conversion plans and various small employer health benefit plans. Additionally, the bill amends several sections, including 41-4703, 41-4706, 41-4707, 41-5206, 41-5210, and 41-5501, to eliminate outdated definitions, correct code references, and make necessary technical corrections. The amendments aim to streamline the regulatory framework for small employer health insurance, ensuring fair and consistent premium rate establishment while removing redundant provisions.

Moreover, the bill updates the Idaho individual high-risk reinsurance pool by revising definitions and restructuring its governing board. It removes references to the Idaho small employer health reinsurance program and clarifies terms such as "policyholder" and "pool." The reinsurance pool will function as an independent public body, overseen by a ten-member board representing various stakeholders, including carriers and consumer interests. The bill also details the appointment process for board members and emphasizes the pool's role in providing reinsurance for individuals with high-risk medical conditions. An emergency clause is included, allowing the bill to take effect immediately upon passage, with certain provisions set to be implemented by July 1, 2025.

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