956 CMR, § 6.05 - Determining Affordability
(1)
Affordability Schedule.
(a) The Board will formally vote to adopt an
affordability schedule annually, no later than June
1st of every year, that shall establish the
percentage of an individual's adjusted gross income that the individual can be
expected to contribute toward the cost of health insurance that meets minimum
creditable coverage standards. The Board shall also consider whether the
affordability schedule should establish percentages of adjusted gross income
that couples without dependents and/or families can be expected to contribute
toward the cost of health insurance that meets minimum creditable coverage
standards. The affordability schedule shall be issued for use by the
Massachusetts Department of Revenue, other state agencies, and members of the
public for their use in determining whether residents who have not purchased
health insurance can purchase affordable insurance and are thus subject to a
penalty for their failure to purchase insurance.
(b) The Board shall allow public comments
before it formally votes to adopt its annual affordability schedule.
(c) Before formally voting to adopt, the
Board will provide a copy of the schedule to the House and Senate Committee on
Ways and Means and the Joint Committee on Health Care Financing.
(2)
Schedule of
Premiums.
(a) The Board will
formally vote to adopt a Premium schedule that establishes the lowest levels of
Premium (or Premiums) that are deemed by the Board to be available for minimum
creditable coverage for Individuals, couples without dependents, and families
for a calendar year. The Premium schedule may be combined with the
affordability schedule.
(b) The
Board shall consider deductibles insetting the Premium schedule and shall also
allow for variances based on age and rate basis types.
(c) The Board shall allow public comments
before it formally votes to adopt its Premium schedule.
(d) The Board will deliver the Premium
schedule to the Massachusetts Department of Revenue by December
1st of each year.
Notes
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