The resolution acknowledges the difficulties faced by Rhode Islanders in accessing affordable health care due to high costs associated with insurance premiums, deductibles, and out-of-pocket expenses. 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. 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 resolution calls for HealthSource RI (HSRI) to form a working group to study and make recommendations on the design of a state-based program to assist with the affordability of health insurance coverage in the individual market. The working group is to include a diverse range of stakeholders and consider mechanisms to address both monthly premiums and out-of-pocket costs. The group is also tasked with exploring potential funding mechanisms for such a program, considering a total funding amount of $20 million and variations of this amount. HSRI is requested to submit a report on the working group's recommendations to the President of the Senate and the Governor by January 31, 2025.