Authority: §§ 38.2-316.1 and 38.2-326, Code of Virginia; § 42.18041 c, United States Code.
A. There is hereby appropriated to the State Corporation Commission $103,671 the first year and $103,671 the second year from the general fund to pay for the plan management functions authorized in Chapter 670 of the Acts of Assembly of 2013.
B.1. Notwithstanding the provisions of § 4-3.02 of this act, the Secretary of Finance may authorize either a working capital advance or an interest-free treasury loan in an amount not to exceed $40,000,000 for the State Corporation Commission to fund start-up costs and other costs associated with the implementation of a State Health Benefit Exchange. The Secretary of Finance may extend the repayment plan for any such working capital advance or interest-free treasury loan for a period longer than twelve months.
2. The State Corporation Commission may use a portion of the user fees collected from health insurance carriers participating in the State Health Benefit Exchange to repay the working capital advance or interest-free treasury loan authorized in B.1.
C.1. Notwithstanding § 38.2-3418.18, as enacted during the 2020 Regular Session of the General Assembly, coverage of hearing aids for children shall not become effective until the Health Insurance Reform Commission, established pursuant to Chapter 53 (§ 30-339 et seq.) of Title 30 of the Code of Virginia, has completed an assessment of such coverage in accordance with the requirements of § 30-343 of the Code of Virginia, including a joint assessment by the Bureau of Insurance of the State Corporation Commission and the Joint Legislative Audit and Review Commission of the social and financial impact of the proposed mandate in accordance with § 30-343 of the Code of Virginia and the impact of the proposed mandate on health care providers, access to health care services, and the cost of health care in the Commonwealth and any process changes required to implement the mandated benefit. In addition, the Joint Legislative Audit and Review Commission and the Bureau of Insurance shall jointly examine whether changes could be made to the Essential Health Benefits Benchmark Plan to include hearing aids for minors as an essential health benefit without cost to the Commonwealth.
2. The Health Insurance Reform Commission, the Bureau of Insurance, and the Joint Legislative Audit and Review Commission shall report their findings to the Chairs of the House Appropriations and Senate Finance and Appropriations Committees by November 1, 2020.
3. If the findings determine that no fiscal impact shall be incurred by the Commonwealth, such coverage may commence on July 1, 2021.
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.