The bill amends Chapter 26 of the General Laws by replacing section 7A to enhance the rate review examinations conducted by the health care access bureau within the division of insurance. It establishes a health care access bureau overseen by a deputy commissioner, whose responsibilities include reviewing premium rates for health benefit plans, overseeing the small group and individual health insurance market, and ensuring consumer access to affordable health insurance products. The deputy commissioner is tasked with protecting consumer interests, promoting fair treatment of health care providers, and enhancing equity and affordability in the health care system.

Additionally, the bill mandates the deputy commissioner to develop affordability standards for rate reviews, considering factors such as consumer costs, purchaser costs, and the impact of proposed rates on the commonwealth's health care cost growth benchmark. The commissioner is also required to appoint key personnel to the bureau and collect assessments from licensed carriers to fund the bureau's operations, ensuring that the assessment generates at least $2,000,000 annually. The funds collected will be used for the bureau's operating expenses and may also cover consultant fees.