Enacts the RI individual market affordability act of 2026 to establish a program to help reduce out-of-pocket costs for low- and moderate-income consumers enrolled in individual health insurance coverage through the RI health benefits exchange.

Rhode Island Individual Market Affordability Act of 2026

This bill would create a new state program designed to help Rhode Islanders with low-to-moderate incomes pay less out-of-pocket for their health insurance. Specifically, it targets people who buy their own health coverage through HealthSource RI, the state's official health insurance marketplace (also called the exchange). Out-of-pocket costs include expenses like deductibles, copays, and coinsurance — the amounts people pay directly when they use medical services, even after their insurance kicks in.

The program would provide financial assistance to reduce these costs for qualifying consumers, making it easier for them to actually use their health insurance without facing large unexpected bills. This builds on top of existing federal subsidies that already help lower monthly premium costs for marketplace enrollees, by addressing the additional financial burden people face when they actually seek medical care.

The people most directly affected would be Rhode Islanders who purchase individual health insurance through HealthSource RI and fall within certain income limits. This typically includes people who are self-employed, work for employers who don't offer health coverage, or are otherwise not covered through a government program like Medicaid. The bill has been introduced and sent to the House Finance Committee, where lawmakers will review the details, including how the program would be funded and administered, before deciding whether to advance it further.