The bill establishes the Massachusetts Merged Market Advisory Council, which will advise the governor and lieutenant governor on the merged market for insured health coverage regulated under chapter 176J of the General Laws. The Council is tasked with ensuring the affordability and long-term stability of health benefit plans for individuals and small employers. It will consist of up to 13 members, including five appointed by the speaker of the house and the senate president, as well as ex officio members such as the commissioner of the division of insurance and the secretary of the executive office of health and human services. Members will serve without compensation and in an advisory capacity.

The Council's primary responsibilities include preparing a report based on independent actuarial analysis that summarizes the current status of the merged market and makes recommendations for improvements. It will examine various factors affecting market stability, such as risk pool dynamics, healthcare cost drivers, and potential policy changes. The Council is authorized to hold public meetings and solicit feedback from various stakeholders to inform its recommendations, which are due to the governor by December 31, 2026. The Council will dissolve upon submission of the final report or six months after the bill's signing, whichever is later.