Creates the Rhode Island Individual Market Affordability Act of 2024 to help reduce out-of-pocket costs for low- and moderate-income consumers enrolled in the health insurance coverage through the Rhode Island health benefits exchange.
Impact
The implementation of the Rhode Island Individual Market Affordability Act will significantly change state laws related to healthcare affordability solutions. The bill authorizes the establishment of a health insurance affordability program, which includes provisions for cost-sharing reductions and premium tax credits for those who qualify. It aligns with federal provisions, adapting them to local needs and ensuring that Rhode Island residents can benefit from available federal funding and subsidies to alleviate financial burdens related to healthcare services.
Summary
S0707, known as the Rhode Island Individual Market Affordability Act of 2025, aims to create a state program that focuses on improving the affordability of health insurance for low- and moderate-income consumers enrolled in coverage via the Rhode Island health benefits exchange. This legislation seeks to reduce out-of-pocket costs associated with health insurance premiums and healthcare services, ultimately making it easier for eligible residents to access necessary medical care without incurring crippling expenses.
Contention
Discussions surrounding S0707 highlight various points of contention. Proponents argue that it addresses a critical need for affordable healthcare options amidst rising healthcare costs. Conversely, some critics are concerned about the sustainability of the funding mechanisms and potential over-reliance on federal funding sources, which might affect long-term viability. Furthermore, there are debates regarding the efficacy of establishing a state-level program parallel to existing federal assistance, with concerns about adding complexity to the healthcare system instead of simplifying it.
Creates the Rhode Island Individual Market Affordability Act of 2024 to help reduce out-of-pocket costs for low- and moderate-income consumers enrolled in the health insurance exchanges.
Creates the Rhode Island Individual Market Affordability Act of 2024 to help reduce out-of-pocket costs for low- and moderate-income consumers enrolled in the health insurance exchanges.
SENATE RESOLUTION RESPECTFULLY REQUESTING HEALTHSOURCE RI (HSRI) TO CONVENE A WORKING GROUP TO STUDY THE ISSUE OF AFFORDABILITY OF COVERAGE IN THE RHODE ISLAND HEALTH INSURANCE INDIVIDUAL MARKET AND TO PROVIDE RECOMMENDATIONS ON THE DESIGN OF A STATE-BASED PROGRAM TO PROVIDE AFFORDABILITY ASSISTANCE TO RHODE ISLANDERS ENROLLED IN PLANS THROUGH THE HSRI EXCHANGE
JOINT RESOLUTION RESPECTFULLY REQUESTING HEALTHSOURCE RI (HSRI) TO CONVENE A WORKING GROUP TO STUDY THE ISSUE OF AFFORDABILITY OF COVERAGE IN THE RHODE ISLAND HEALTH INSURANCE INDIVIDUAL MARKET AND TO PROVIDE RECOMMENDATIONS ON THE DESIGN OF A STATE-BASED PROGRAM TO PROVIDE AFFORDABILITY ASSISTANCE TO RHODE ISLANDERS ENROLLED IN PLANS THROUGH THE HSRI EXCHANGE
JOINT RESOLUTION RESPECTFULLY REQUESTING HEALTHSOURCE RI (HSRI) TO CONVENE A WORKING GROUP TO STUDY THE ISSUE OF AFFORDABILITY OF COVERAGE IN THE RHODE ISLAND HEALTH INSURANCE INDIVIDUAL MARKET AND TO PROVIDE RECOMMENDATIONS ON THE DESIGN OF A STATE-BASED PROGRAM TO PROVIDE AFFORDABILITY ASSISTANCE TO RHODE ISLANDERS ENROLLED IN PLANS THROUGH THE HSRI EXCHANGE
Establishes a universal, comprehensive, affordable single-payer health care insurance program and helps control health care costs, which would be referred to as, "the Rhode Island Comprehensive Health Insurance Program" (RICHIP).
Establishes a universal, comprehensive, affordable single-payer health care insurance program and helps control health care costs, which would be referred to as, "the Rhode Island Comprehensive Health Insurance Program" (RICHIP).
Creates the Rhode Island Individual Market Affordability Act of 2024 to help reduce out-of-pocket costs for low- and moderate-income consumers enrolled in the health insurance coverage through the Rhode Island health benefits exchange.
Creates the Rhode Island Individual Market Affordability Act of 2024 to help reduce out-of-pocket costs for low- and moderate-income consumers enrolled in the health insurance exchanges.
Creates the Rhode Island Individual Market Affordability Act of 2024 to help reduce out-of-pocket costs for low- and moderate-income consumers enrolled in the health insurance exchanges.
Establishes a single-payer health care insurance system, consolidating public and private payments into a more efficient Medicare-for-all style program, funded by progressive taxes, to reduce health care costs.
Establishes a single-payer health care insurance system, consolidating public and private payments into a more efficient Medicare-for-all style program, funded by progressive taxes, to reduce health care costs.
Establishes a universal, comprehensive, affordable single-payer health care insurance program and helps control health care costs, which would be referred to as, "the Rhode Island Comprehensive Health Insurance Program" (RICHIP).
Establishes a universal, comprehensive, affordable single-payer health care insurance program and helps control health care costs, which would be referred to as, "the Rhode Island Comprehensive Health Insurance Program" (RICHIP).