The Rhode Island Senate has acknowledged the difficulties faced by its residents in accessing affordable health care due to high costs associated with insurance premiums, deductibles, and out-of-pocket expenses. Research indicates that these costs are particularly burdensome for vulnerable populations and have led to a decrease in the utilization of necessary medical services. The Senate notes that the federal enhanced advance premium tax credits, which have helped to lower uninsured rates to a historic low, are set to expire in December 2025, potentially reversing the progress made in health coverage.

In response to these concerns, the Senate is requesting HealthSource RI (HSRI) to form a working group to study and propose a state-based program aimed at making health insurance more affordable for Rhode Islanders. This group will include a diverse range of stakeholders and will consider the impact of the expiration of federal tax credits. The working group is tasked with delivering recommendations for a program based on a $20 million budget, as well as variations for a halved or doubled budget, and exploring potential funding mechanisms. HSRI is expected to report its findings and recommendations to the Senate and the Governor by January 31, 2025.