2021 Special Session I

Budget Amendments - HB1800 (Floor Approved)

View Budget Item
View Budget Item amendments

HB 2332: Implementation of Virginia Reinsurance Program

Item 487 #1h

Item 487 #1h

First Year - FY2021 Second Year - FY2022
Independent Agencies
State Corporation Commission FY2021 $350,000 FY2022 $0 GF

Page 599, line 13, strike "$8,337,696" and insert "$8,687,696".

Page 600, after line 1, insert:

"D. Out of this appropriation, $350,000 the first year from the general fund is provided for development and submission of a state innovation waiver request pursuant to § 1332 of the Affordable Care Act, to establish the Commonwealth Health Reinsurance Program, pursuant to House Bill 2332, 2021 General Assembly, and to implement the bill's provisions for the program."


(This amendment provides $350,000 the first year from the general fund for the State Corporation Commission's Bureau of Insurance to develop and submit a state innovation waiver to establish a reinsurance program for the individual health insurance marketplace pursuant to House Bill 2332, 2021 General Assembly. This funding may be offset by the receipt of a federal grant for such purpose, however the receipt of federal funds may not occur until fiscal year 2022.)