An Act to reform the healthcare cost benchmark

HD 955 updates Massachusetts' healthcare cost growth benchmark by replacing the current method with the state's historical economic growth rate over the past decade. Starting in 2023, the benchmark will be set using the average annual growth rate of the state's economy (measured over the most recent ten years), as calculated by the state's finance secretary. This requires the secretary to publicly report the methodology and results to legislative committees and the health policy commission. The change directly affects healthcare providers, insurers, and the health policy commission, which must now use this new economic benchmark to regulate healthcare cost growth.