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 can lead to decreased use of necessary medical services, adversely affecting vulnerable populations. The resolution also references a report by HealthSource RI (HSRI) indicating a significant increase in out-of-pocket spending and problems with paying medical bills among insured Rhode Islanders. Additionally, it highlights the potential impact of the expiration of federal enhanced advance premium tax credits in December 2025, which could lead to unaffordable health insurance costs for many.

In response to these concerns, the resolution calls for HSRI to form a working group to study and recommend a state-based program to improve the affordability of health insurance in the individual market. The working group is to include a diverse range of stakeholders, such as health care providers, consumer advocacy organizations, and businesses. The group is tasked with considering mechanisms to address both monthly premiums and out-of-pocket costs, taking into account the impending expiration of federal tax credits. The resolution also requests the working group to explore potential funding mechanisms for the state-based affordability program and to report its findings and recommendations to the General Assembly by January 31, 2025. Copies of the resolution are to be sent to relevant state officials and entities.