100520.5.
(a) The Health Care Affordability Reserve Fund is hereby created in the State Treasury.(b) Notwithstanding any other law, the Controller may use the funds in the Health Care Affordability Reserve Fund for cashflow loans to the General Fund as provided in Sections 16310 and 16381.
(c) Upon the enactment of the Budget Act of 2021, and upon order of the Director of Finance, the Controller shall transfer three hundred thirty-three million four hundred thirty-nine thousand dollars ($333,439,000) from the General Fund to the Health Care Affordability Reserve Fund.
(d) Upon appropriation by the Legislature, the Health Care Affordability Reserve Fund shall be utilized, in addition to any other appropriations made by the Legislature for the same purpose, for the purpose of health care affordability programs operated by the California Health Benefit Exchange.
(e) (1) The California Health Benefit Exchange shall, has conducted, in consultation with stakeholders and the Legislature, a study to develop options for providing cost sharing reduction subsidies to reduce cost sharing for low- and middle-income Californians. On or before January 1, 2022, the Exchange shall report those developed options to the Legislature, Governor, and the Healthy California for All Commission, established pursuant to Section 1001 of the Health and Safety Code, for consideration in the 2022–23 budget process. health care affordability assistance. It is the intent of the Legislature in adding this subdivision to enable the Exchange to implement that affordability assistance. It is further the intent of the Legislature that the affordability assistance both maximize federal financial assistance and be in addition to that assistance.
(2) In developing the options, the Exchange shall do all of the following:
(A) (1) Include options for all Covered California enrollees with income up to 400 percent of the federal poverty level to The affordability assistance provided by the Exchange shall reduce cost sharing, including copays, deductibles, coinsurance, and maximum out-of-pocket costs. costs, if enhanced federal premium subsidies consistent with the federal American Rescue Plan Act of 2021 (Public Law 117-2) are made available for the 2023 and 2024 calendar years, and shall eliminate deductibles for all benefits to the extent feasible.
(B) Include options to provide zero deductibles for all Covered California enrollees with income under 400 percent of the federal poverty level and upgrading those with income between 200 percent and 400 percent, inclusive, of the federal poverty level to gold-tier cost sharing.
(C) Address any operational issues that might impede implementation of enhanced cost-sharing reductions for the 2023 calendar year.
(D) Maximize federal funding and address interactions with federal law regarding federal cost-sharing reduction subsidies.
(3) The Exchange shall make the report publicly available on its internet website.
(4) (2) The Exchange shall submit the report in compliance with Section 9795 of the Government Code. adopt standard benefit designs consistent with this subdivision.
(f) Upon order of the Department of Finance, a loan of six hundred million dollars ($600,000,000) is authorized from the Health Care Affordability Reserve Fund to the General Fund in the 2023–24 fiscal year. The loan shall be repaid in the 2025–26 fiscal year.