The proposed bill establishes the Medicaid Access Program in Washington State, aimed at enhancing Medicaid professional service rates to align with Medicare rates by January 1st of the second plan year after certain conditions are met. It creates a new chapter in Title 74 and Title 48 of the Revised Code of Washington (RCW), detailing definitions, assessments, and fund management related to the program. Health carriers and Medicaid managed care organizations will be required to pay an annual covered lives assessment, with specific rates set for both groups. The collected funds will be deposited into the newly created Medicaid Access Program account, which will be used exclusively for the program's administration and implementation.

Additionally, the bill amends existing laws regarding the treasury income account, ensuring that the account is subject to chapter 43.88 RCW, with the state treasurer responsible for distributing earnings monthly. The act emphasizes the importance of compliance with federal regulations and includes provisions for the assessment and collection of funds, as well as protections against civil or criminal liability for good faith actions under the program. It also includes a clause stating that the act will expire if the federal Centers for Medicare and Medicaid Services do not approve the state plan amendment or waiver requests by January 1, 2027, ensuring timely implementation and a structured approach to align with federal healthcare regulations.