An Act to redirect excessive health insurer reserves to support health care needs

This bill requires health insurance companies in Massachusetts with large financial reserves to pay an assessment to fund specific health care programs. The assessment applies to carriers whose net worth surplus exceeds 525 percent of their required risk-based capital, with the total collected funds capped at $300 million. Half of the money, $150 million, is directed to the Behavioral Health Trust Fund, while the other half goes to the COVID-19 Public Health Emergency Hospital Relief Trust Fund. The law includes enforcement measures for non-payment, such as interest and late fees, and is set to expire on December 31, 2025.