The Granite Advantage Health Care Program is a New Hampshire initiative established in 2018 through state legislation, specifically the 2018 Statutory Amendments. This program is designed to provide health care coverage to a newly eligible Medicaid population within the state. It essentially replaced the earlier Marketplace Premium Assistance Program.
Financially, the Granite Advantage Program is supported through assessments collected from insurance companies operating in New Hampshire. These funds are then deposited into the Granite Advantage Health Care Trust Fund. The amount collected is determined based on factors like the “remainder amount” as defined in state statutes and revenues from alcohol abuse prevention funds, as well as taxes related to premiums and medical services for the newly eligible Medicaid group.
To manage the operational details and financial aspects of this program, the Association, presumably an insurance association mentioned in the original text, adopted a First Amendment to its Restated Plan. This amendment was approved by both the Commissioner of the New Hampshire Department of Health and Human Services and the Insurance Commissioner. It allows the Association to manage funds, including transferring surplus monies from the previous Marketplace Premium Assistance program to a reserve fund for potential needs within the Granite Advantage Program.
It’s important to note that the Granite Advantage Program, as outlined in the 2018 Statutory Amendments, was initially set to terminate on December 31, 2023, unless further legislation extends it. Following this timeline, the Association is expected to make its final distribution of assessment funds to the Granite Advantage Health Care Trust Fund by February 15, 2024. Subsequently, the Commissioner of the Department of Health and Human Services will determine the final financial reconciliation by February 15, 2025. This reconciliation process will address any underpayments or overpayments in the program’s funding, ensuring financial accuracy and closure.
