The resolution acknowledges the difficulties faced by Rhode Islanders in accessing health care services due to high costs associated with deductibles, out-of-pocket expenses, and health insurance premiums. It notes that individuals in the individual market pay higher cost-sharing than those in small or large group markets and that high cost-sharing leads to decreased use of necessary medical services, adversely affecting vulnerable populations. The resolution also highlights the potential impact of the expiration of federal enhanced advance premium tax credits in December 2025, which could lead to unaffordable health insurance for many middle-income residents.

In response to these concerns, the General Assembly of Rhode Island requests HealthSource RI (HSRI) to form a working group to study the affordability of coverage in the individual market and to propose a state-based program to assist with affordability. The working group is to include diverse stakeholders and consider both monthly premiums and out-of-pocket costs. The group is also tasked with examining the impact of the expiration of federal tax credits and exploring potential funding mechanisms for the state-based affordability program. The findings and recommendations are to be reported to the Speaker of the House, the President of the Senate, and the Governor by January 31, 2025. Copies of the resolution are to be sent to relevant state departments and the Governor.