This bill, if enacted, would amend current law to require individual or group health insurance contracts, plans, or policies delivered, issued for delivery, or renewed in the state of Rhode Island on or after January 1, 2024, to increase the rate of reimbursement for each in-network health care service that is reimbursed below the average reimbursement rates set by Connecticut and Massachusetts. The rate of reimbursement would be determined by the office of health insurance commissioner (OHIC) based on a review and analysis of the reimbursement rates in Connecticut and Massachusetts. The rate would increase annually to match the average reimbursement rates set by Connecticut and Massachusetts.

This bill would apply to accident and sickness insurance policies, nonprofit hospital service corporations, nonprofit medical service corporations, and health maintenance organizations. The purpose of this bill is to ensure that physicians are adequately reimbursed for their services and to align reimbursement rates in Rhode Island with those in neighboring states. The bill would take effect upon passage.