Notice of Introduction for Substitute House Bill 2073 - Update: 10 Year Analysis Complete

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UPDATE: The 10 year analysis for SHB 2073, titled AN ACT Relating to funding for health insurance premium assistance, has been completed. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.

Ten-year projection:

Office of Insurance Commissioner:

Section 2 requires the OIC to calculate whether a nonprofit carrier’s surplus exceeds 100 times the statutory minimum net worth based on its 2025 annual statement, validate the reported financial data, and apply the formula by October 1, 2026. If an excessive surplus is identified, OIC must assess and collect 10 percent of the excess within 90 days and deposit the funds.

Section 2(1) requires the Insurance Commissioner must make a determination on whether a nonprofit health carrier’s surplus is excessive.

Section 2(2) requires within 90 days of the Insurance Commissioner’s determination, nonprofit health carriers to pay 10 percent of the excessive surplus to the commissioner's office for deposit into the state health care affordability account created in RCW 43.71.130.

Based on 2024 carrier financial reports, 17 nonprofit health carriers were identified and reviewed. Eight carriers would be subject to this legislation (carrier’s net worth @ 2024 year-end exceeding $300 million). The eight affected carriers in the aggregate had over $5 billion that, by definition in this bill, would be considered excessive surplus. However, the OIC cannot determine whether excessive surplus payment would render any of the impacted nonprofit health carrier financially impaired under the laws of this state or any other state in which the nonprofit health carrier is authorized to do business. 

Therefore, resulting revenue is indeterminate because future surplus levels and potential excess amounts cannot be predicted.

Ten-year projection prepared in consultation with the following agencies:

Office of Insurance Commissioner

The substitute bill was proposed by:

House Committee on Appropriations
(360) 786-7155



The original bill sponsors and contact information are:




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp