Health Benefit Exchange Authority Financial Sustainability Amendment Act
The Health Benefit Exchange Authority Establishment Act of 2011 requires the Health Benefit Exchange Authority (“Authority”) to “prepare a plan that identifies how the Authority will be financially self-sustaining by January 1, 2015.” DC Official Code § 31-3171.16(b)(1). After considering options for achieving financial self-sustainability, the Authority Executive Board adopted a broad-based assessment of all health insurance carriers, similar to an existing approach used by the Ombudsman Program. The Council adopted this approach amending DC Official Code § 31-3171.03 on an emergency basis to authorize the Authority to annually assess all health carriers doing business in the District.
The Department of Insurance, Securities and Banking (DISB) will administer the assessment on behalf of the Authority. In 2014 annual Notice of Assessment was sent on August 18, 2014 and assessments were due on September 30, 2014.
