The State Flexibility to Stabilize the Market Cycle II Grant Program - The Virginia Market Stabilization Grant Project Narrative (Project Narrative) encompasses several projects designed to potentially implement market reforms which should serve to stabilize the Virginia individual and small group health insurance market by assessing the benefits consumers receive for the premiums they pay, quantifying the needs of consumers through actuarial and economic analyses, scanning Virginia’s individual and small group markets to improve our understanding and education of these markets, accessibility and affordability, and possibly the number of healthcare coverage options available to consumers. The Virginia State Corporation Commission’s Bureau of Insurance (BOI), with the assistance of its contracted actuarial firms, will perform at least four projects to implement market reforms. A market model will replicate the current individual market in Virginia and will assist the BOI in predicting the expected impact of various potential policy changes, such as a state-based subsidy program, a basic health program, an individual mandate penalty, or a public option. This grant cycle, the BOI will also consider efforts to stabilize the small group market and develop educational materials for small employers regarding the use of and benefits of HRAs, ICHRAs and QSEHRAs. The BOI is proposing a major analysis of the uninsured population in Virginia and a review of options for changes to our EHB Benchmark Plan. The BOI also anticipates the enactment of legislation for a reinsurance program and will use grant funds for the actuarial and economic analyses and preparation of the 1332 waiver application. Finally, the BOI intends to hold a portion of any awarded monies for other potential projects assigned to us by the Virginia General Assembly and potentially for contracting with a clinical professional specializing in behavioral health to act as a resource assisting our market conduct, consumer services and forms review staff members in addressing mental health parity questions, developing guidelines, etc.