The Oklahoma Insurance Department intends to submit an Affordable Care Act Section 1332 State Innovation Waiver application seeking federal approval to implement a reinsurance program in the individual market starting January 1, 2028, the agency announced. A draft has been released for public review.
Oklahoma's individual health insurance market has experienced significant instability since the Affordable Care Act began, with declining enrollment, high premiums, and limited insurance company participation, the department said. The reinsurance program is projected to reduce premiums between 4.1 and 6.4 percent statewide, with reductions up to 14.6 percent in high-cost regions.
Insurance Commissioner Glen Mulready said the waiver "gives Oklahoma an opportunity to develop solutions tailored to our state rather than relying on a one-size-fits-all approach." The department is accepting written comments through October 31, 2026, via email at 1332waiver@oid.ok.gov or by mail to the Oklahoma Insurance Department.
The state is hosting two public hearings and a separate hearing for members of Oklahoma's Tribal Nations. Public Hearing #1 is scheduled for October 13, 2026, at 2:00 PM CT; Public Hearing #2 is October 14, 2026, at 11:00 AM CT; and the Tribal Nations Hearing is October 22, 2026, at 10:00 AM CT. All will be held at the Oklahoma Health Care Authority in Oklahoma City with virtual attendance options available.