SCC taking steps to create Commonwealth Health Reinsurance Program

The State Corporation Commission is taking steps to create the Commonwealth Health Reinsurance Program, which would begin on Jan. 1, 2023.

The CHRP is designed to increase affordability in the individual health care insurance market with a goal of decreasing premiums.

Pursuant to the Affordable Care Act, the CHRP requires federal approval of an application request for a State Innovation Waiver. Under the waiver, insurance carriers will be reimbursed for a proportion of the claims of covered individuals with high annual costs. In addition to these federal pass-through funds, the program will be funded through state general funds as authorized by the Virginia General Assembly.

A draft waiver application is being prepared for meeting the Jan. 1, 2022 deadline to submit a request to the U.S. Secretary of Health and Human Services.

Information about the program is available on the SCC website at www.scc.virginia.gov/pages/Reinsurance-Waiver. The draft application will be available for review and comment by Oct. 1.

Two public hearings are scheduled on Thursday, Oct. 14 – one at 10 a.m. and the second at 7 p.m. Both will be webcast.

Due to the COVID-19 pandemic, the SCC will hold telephonic hearings for the receipt of public comments. Public witnesses wishing to provide oral comments must pre-register by Oct. 12, in one of three ways:

• Complete a public witness form for case number INS-2021-00110 on the SCC’s website at: http://scc.virginia.gov/pages/Webcasting
• E-mail the same information (PDF version on the same website as above) to mailto:[email protected]
• Call the SCC at 804-371-9141 during regular business hours and provide your name and the phone number you wish the Commission to call to reach you during either hearing.

For those who prefer, there is an opportunity to provide comments in writing on the waiver application request. Written comments may be submitted through the SCC’s website by Nov. 1, at scc.virginia.gov/casecomments/Submit-Public-Comments.

If unable to submit electronically, send comments by U.S. Mail to Clerk of the SCC, c/o Document Control Center, P.O. Box 2118, Richmond, VA 23218-2118 and refer to case number INS-2021-00110.