RD584 - Report of the State Corporation Commission Health Benefit Exchange Division – November 1, 2023

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 sale and purchase of qualified health plans and qualified dental plans, to support the continuity of coverage and reduce the number of uninsured Virginians.

Virginia has completed its transition to a full State-based Exchange. Starting November 1, 2023, Virginia consumers will use Virginia’s Insurance Marketplace to shop for and enroll in Qualified Health and Dental Plans and to access available financial assistance. Small Business Health Options Program insurance (SHOP) will also be available for eligible employees at https://www.marketplace.virginia.gov/small-business-employers.

Annually by November 1, the Exchange, in collaboration with the Secretary of Health and Human Resources, submits 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.