Signed by Governor Kate Brown

Vote Smart's Synopsis:

Vote to pass a bill that implements a tax to provide a revenue that preserves the Oregon Health Plan for an additional 2 years.

Highlights:

• Establishes a 1.5% tax on the gross amount of premium payments received by the Public Employees’ Benefit Board each quarter (Sec. 3).

• Requires insurers and managed care agencies to pay a 1.5% assessment on the gross amount of premiums earned from health benefit plans each quarter (Sec. 5).

• Establishes a fine of $500 per day for each day an agency is late in paying the 1.5% assessment to the Department of Consumer and Business Services (Secs. 6 & 10).

• Establishes the Oregon Reinsurance Program to stabilize insurance rates and premiums for individual health plans (Sec. 18).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that implements a tax to provide a revenue that preserves the Oregon Health Plan for an additional 2 years.

Highlights:

• Establishes a 1.5% tax on the gross amount of premium payments received by the Public Employees’ Benefit Board each quarter (Sec. 3).

• Requires insurers and managed care agencies to pay a 1.5% assessment on the gross amount of premiums earned from health benefit plans each quarter (Sec. 5).

• Establishes a fine of $500 per day for each day an agency is late in paying the 1.5% assessment to the Department of Consumer and Business Services (Secs. 6 & 10).

• Establishes the Oregon Reinsurance Program to stabilize insurance rates and premiums for individual health plans (Sec. 18).

Full Bill Text