The bill amends RCW 43.71.095 to phase in a requirement that only standardized health plans may be offered on the health benefit exchange, with a full transition to standardized plans by January 1, 2027. It allows the exchange to establish additional standardized plans at various actuarial value levels, including catastrophic and platinum, starting in 2027. Health carriers will be required to offer standardized silver and gold plans in each county where they provide qualified health plans, and they may also offer a limited number of nonstandardized plans until 2026. After this date, health carriers can only offer standardized plans, with specific provisions for nonstandardized plans until the full transition.

Additionally, a new section is added to chapter 43.71 RCW, mandating the exchange to develop at least one standardized gold plan at the lower range of allowable actuarial value, a high deductible health plan compatible with health savings accounts, and a catastrophic health plan for 2027. The exchange must consult stakeholders in the development of these plans and ensure they meet existing requirements. Health carriers can only offer these new standardized plans if they are also compliant with the existing standardized health plan requirements. The exchange is also empowered to evaluate and adjust these plans based on consumer preferences and market conditions.

Statutes affected:
Original Bill: 43.71.095