Insurance: health insurers; state-based insurance exchange; provide for. Creates new act. TIE BAR WITH: SB 0637'23

This bill establishes a new nonprofit corporation in Michigan to operate a state-based health insurance exchange that helps consumers buy and sell qualified health plans. The legislation creates a Board of Exchange with specific powers and duties, including rules to prevent conflicts of interest among its members. It also defines the roles of state officials, sets up a marketplace platform for insurance plans, and outlines how the exchange can charge fees to fund its operations. By creating this exchange, the bill aims to foster a competitive health insurance market and provide information to consumers about available coverage options.