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| Health Insurance Marketplace Modernization and Affordability Act of 2005 |
| Date Introduced: 11/02/05 |
| Bill Number: S.1955 |
Description: Senator Allard is a CO-SPONSOR of this legislation.
Health Insurance Marketplace Modernization and Affordability Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide for the establishment and governance of small business health plans, which are group health plans sponsored by trade, industry, professional, chamber of commerce or similar business associations that meet ERISA certification requirements. Requires the Secretary of Labor to consult with the state regarding the Secretary's exercise of authority over such plans. Allows other plans to be treated as small business health plans under certain circumstances.
Amends the Public Health Service Act to require the Secretary of Health and Human Services to promulgate National Interim Model Rating Rules that apply to the small group insurance market.
Requires the Secretary to issue the State Benefit Compendium of harmonized descriptions of the benefit, service, and provider mandates that are required to be provided by health insurance issuers in at least 45 states. Requires the Compendium to provide that any laws relating to benefit, service, and provider mandates other than those described in the Compendium shall not be binding in any state adopting the Compendium.
Prohibits all states that fail to adopt the Compendium from: (1) prohibiting an eligible insurer from offering health insurance coverage consistent with the Compendium; or (2) discriminating against eligible insurers offering or seeking to offer such coverage.
Requires the Secretary to establish the Commission on Health Insurance Standards Harmonization to develop recommendations that harmonize inconsistent state health insurance laws in accordance with the laws adopted in a plurality of the states. Provides that any harmonized standards adopted by the Secretary will supersede state laws related to the areas covered by the harmonized standards.
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