RD604 - Report of the Virginia Health Benefit Exchange for the State Corporation Commission Pursuant to § 38.2-6516 of the Code of Virginia – November 1, 2022

Executive Summary:

Chapter 65 of Title 38.2 of the Code of Virginia establishes the Virginia Health Benefit Exchange (Exchange) within the State Corporation Commission (Commission). The purpose of the Exchange is to facilitate the purchase and sale of qualified health plans and qualified dental plans, to support the continuity of coverage and reduce the number of uninsured Virginians.

Virginia has transitioned to a State-based Exchange on the federal platform. Virginia is on track to complete its transition to a full State-based Exchange by November 1, 2023. Until plan year (PY) 2024, Virginia consumers will continue to use HealthCare.gov to shop for an enroll in Qualified Health Plans and to access available financial assistance. Small Business Health Options Program insurance (SHOP) will also be available for eligible employees at https://www.healthcare.gov/small-businesses/.

Annually by November 1, the Exchange, in collaboration with the Secretary of Health and Human Resources, must submit a report to the Chairs of the Senate Committees on Commerce and Labor and Finance and Appropriations and the House Committees on Commerce and Energy and Appropriations addressing the following items:

1. Exchange operations and responsibilities.

2. An accounting of the Exchange’s finances.

3. The effectiveness of the outreach and implementation activities of the Exchange in reducing the number of individuals without health insurance coverage; and

4. Other relevant information.