The proposed bill establishes the Medicaid Access Program in Washington State, designed to enhance access to Medicaid services by increasing professional service rates to align with Medicare rates. 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 each organization type. The collected funds will be deposited into the Medicaid Access Program account, which will be used exclusively for the program's administration, including payments to healthcare providers and managed care organizations. The bill also mandates the Washington State Health Care Authority to submit necessary state plan amendments or waiver requests to the Centers for Medicare and Medicaid Services by September 1, 2025.

Additionally, the bill amends existing laws regarding the treasury income account, ensuring that the "medicaid access program account" is included among the accounts eligible for earnings distribution. It introduces new sections that clarify the act's provisions are not severable and emphasizes that prior assessments and payments will remain unaffected if any part of the act is rendered ineffective. The act is deemed necessary for the immediate preservation of public peace, health, or safety, taking effect immediately. It also includes expiration clauses contingent upon federal approval and funding, ensuring the act will become null and void if specific funding is not included in the omnibus appropriations act by June 30, 2025.