Health Care Premium Reduction Act

This bill amends the Patient Protection and Affordable Care Act to require the Department of Health and Human Services to award grants to states to support the purchase of private health insurance by consumers and to stabilize health insurance premiums. Priority is given to states with the highest health insurance premiums and such states may be provided bonus payments.

States must use grants to:

• reduce health insurance premiums through activities such as cost-sharing programs to reduce deductibles and out-of-pocket expenses;
• increase the number of individuals with health insurance;
• review premium rates to determine unreasonable premium increases and facilitate reduction of such rates; and
• address health insurance affordability, quality, and accessibility through a waiver of health coverage requirements.