SCC Seeks to Establish Commonwealth Health Reinsurance Program

Financial

JAN 03, 2022

RICHMOND – The State Corporation Commission (SCC) has applied for a federal waiver to establish the Commonwealth Health Reinsurance Program (CHRP) as directed by Virginia Code Section 38.2-6606. The new program is scheduled to begin on January 1, 2023.

House Bill 2332 was passed in the 2021 session of the Virginia General Assembly and signed into law on March 31, 2021, creating the CHRP and directing the SCC to seek the waiver application.

The CHRP application was submitted to the Centers for Medicare and Medicaid Services, a division of the U.S. Department of Health and Human Services, and to the U.S. Department of the Treasury.

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Contact: Andy Farmer, 804-371-9141