The bill proposes the establishment of the Rhode Island Comprehensive Health Insurance Program (RICHIP), a universal, single-payer health care system designed to enhance access to medical services and control health care costs. It aims to replace high health insurance premiums and out-of-pocket expenses with lower progressive taxes, consolidating existing government and private payments into a more efficient system. The legislation emphasizes the need for legislative approval for any necessary waivers and financing proposals before the program's implementation. Key provisions include the introduction of a RICHIP board, the establishment of a trust fund dedicated to financing the program, and the requirement for the director to develop standardized claims procedures and monitor billing practices.

Additionally, the bill outlines various Medicaid reforms, such as increasing the personal needs allowance for nursing facility residents, aligning Medicaid rates with Medicare equivalent rates, and expanding eligibility for elderly and disabled residents. It also introduces new definitions relevant to the healthcare system, mandates the creation of a prescription drug formulary system, and emphasizes the importance of integrating behavioral health care with physical healthcare. The Executive Office of Health and Human Services is granted authority to implement these changes, which may involve modifications to existing rules and regulations. Overall, the bill seeks to enhance healthcare access and quality for Rhode Island residents while ensuring fiscal responsibility and operational efficiency.

Statutes affected:
5465: 27-34.3-7, 27-66-24, 28-57-5, 40-8.4-13, 42-12.3-14, 44-17-1, 44-51-3