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 in Rhode Island designed to help lower the out-of-pocket health care costs for people with low to moderate incomes who buy their own health insurance through HealthSource RI, the state's health insurance marketplace. Out-of-pocket costs are expenses like deductibles, copays, and coinsurance that people pay directly when they visit a doctor or receive medical care, even after their insurance kicks in. The goal of the program is to make health coverage more financially manageable for individuals and families who don't get insurance through an employer or a government program like Medicaid.

The people most directly affected would be Rhode Islanders who purchase individual health insurance plans through HealthSource RI and fall within certain income limits considered "low to moderate." These residents could see reductions in what they have to pay out of their own pockets when they use their health insurance, which could make it easier for them to afford necessary medical care without facing large unexpected bills. The bill does not yet spell out the specific income thresholds or the exact dollar amounts of assistance, as those details would likely be worked out through the program's development and regulations.

The bill has been introduced in the Rhode Island Senate and referred to the Senate Health and Human Services Committee, which means it is in the early stages of the legislative process. No final vote has been taken, and the bill would need to pass through committee review and both chambers of the legislature before becoming law.