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

During Virginia’s first open enrollment since transitioning from Healthcare.gov, over 400,000 Virginians signed up for health care coverage. The 2024 open enrollment for Virginia’s Insurance Marketplace occurred from November 1, 2023 to January 16, 2024. During this period, the number of health insurance enrollments in Virginia increased by nearly 14 percent from the previous year and marked a major milestone for the Exchange and its mission to offer health insurance coverage that meets the needs of Virginia residents.

As required by § 38.2-6516, the Exchange, in collaboration with the Secretary of Health and Human Resources, submits this report annually to the Chairs of the Senate Committees on Commerce and Labor and Finance and Appropriations and the House Committees on Labor and Commerce and Appropriations. It addresses:

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.