"Georgia Health Insurance Affordability and Consumer Protection Act"; enact
The bill will enable state premiums subsidies to replace or supplement the federal premium tax credits for enrollees earning up to 400 percent of the federal poverty level, alongside offering cost-sharing reductions for individuals earning below 250 percent of the federal poverty level. Furthermore, it proposes a state-funded plan for those earning below 200 percent of the federal poverty level, which would not require premium payments. These measures aim to ensure that health insurance remains affordable and accessible to all Georgians, thereby potentially reducing the uninsured population significantly.
Senate Bill 192, titled the 'Georgia Health Insurance Affordability and Consumer Protection Act,' seeks to address the potential expiration of enhanced premium tax credits (ePTCs) under the federal Patient Protection and Affordable Care Act. The proposed legislation mandates the Georgia Department of Insurance to develop an affordability program, which aims to reduce health insurance costs for low- and middle-income residents. This is a critical measure as the expiration of ePTCs could lead to significant premium increases, which would adversely affect the uninsured rate in Georgia, particularly among vulnerable populations such as rural communities and small businesses.
Notably, the bill provisions include a comprehensive implementation timeline with a stakeholder working group to address broader input and a fiscal impact analysis scheduled for completion by August 2025. Furthermore, the legislation highlights the necessity of consumer education initiatives to facilitate awareness of these programs among eligible Georgians. There may be concerns surrounding the long-term sustainability of the funding mechanisms, which could affect the effectiveness of the affordability program and its ability to act as a buffer against rising health insurance costs post-2025.