The proposed bill aims to restrict health insurance companies in Washington from using premiums collected from policyholders for political lobbying or contributions to candidates for state and federal offices. It establishes that health insurance companies may not use these funds for political purposes, although they can contribute to political committees if they have received explicit permission from policyholders. The bill emphasizes the need for health insurance companies to prioritize the health care needs of their policyholders, especially in light of the financial disparities highlighted during the COVID-19 pandemic.

To enforce these provisions, the bill designates a commission responsible for monitoring compliance and allows for penalties against companies that violate the rules. Companies found in violation may face fines ranging from $25,000 to $500,000, and they would be liable to their policyholders for double the amount of any unlawful contributions. The bill also includes provisions for its broad interpretation and establishes that it constitutes a new chapter in Title 29B of the Revised Code of Washington (RCW), with a specific citation as the "health care dollars for health care act."