Increasing temporarily insurance premium taxes on insurers to fund health insurance premium assistance.

This bill temporarily increases the insurance premium tax rate from 2% to 2.75% for the 2026 calendar year on most insurers and health care service providers. The additional tax revenue will be deposited into the state health care affordability account to fund health insurance premium assistance and cost-sharing reduction programs. The bill specifies that the increased tax amount cannot be passed on to consumers through higher premiums unless the insurance commissioner determines it would risk carrier insolvency or harm consumers.

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