This bill creates a new annual coverage assessment on health carriers subject to tax under RCW 48.14.020 or 48.14.0201 and adds new statutory sections establishing an "abortion savings program" and an "abortion savings account." The assessment is payable to the state treasurer through the commissioner's office, with the initial rate set at $0.82 per coverage month for the first year and $0.165 per coverage month thereafter, and annual filings and payments due on or before March 1 (initially due March 1, 2027). It imposes a graduated penalty schedule for late payment (5%, 10%, and 20% thresholds), interest at the maximum legal rate beginning 61 days after due date, enforcement tools including distraint and revocation of certificates for delinquent carriers, a six‑year deadline to request refunds of erroneous or excess payments, and an express prohibition on health carriers passing the assessment through to enrollees. The bill establishes the abortion savings program to provide, subject to appropriation, operating grants to eligible organizations that employ health care providers authorized to terminate a pregnancy, requires that at least 85% of appropriated funds be awarded as grants except for necessary program operation, restricts collection and disclosure of identifying information of grantees, staff, and service recipients, and limits use of account moneys to the grant program only after appropriation. The bill reenacts and amends RCW 43.84.092 to establish a treasury income account to receive all earnings from investing surplus treasury balances, to be used for federal Cash Management Improvement Act (CMIA) purposes and to pay purchased banking services on behalf of treasury funds without separate appropriation. The state treasurer must distribute earnings monthly, crediting the general fund except that a long list of specified state accounts and funds (including the abortion savings account) receive proportionate shares based on average daily balances; earnings from certain permanent funds are allocated to their beneficiary accounts. The Office of Financial Management is authorized to determine CMIA amounts due to or from the federal government and to direct transfers as necessary, and CMIA refunds and payments to financial institutions must occur before monthly distributions. Legally, the measure creates new law (new sections to chapters 48.14 and 43.70 RCW), amends and reenacts existing law (RCW 43.84.092), imposes a new assessment and related filing, penalty, interest, and enforcement procedures, and establishes a new grant program and dedicated state treasury account. The text provided is incomplete in places: the exact identity of "the commissioner," "the department," and "the secretary" referenced in the grant and enforcement provisions is not specified in the extracted facts, portions of the long list of accounts may be truncated, and other sections or appropriation details may be missing from the supplied excerpts.

If enacted, health insurers that pay premium taxes will have a new annual bill calculated by coverage months — a one-time higher rate for the first year ($0.82 per coverage month for the prior year, then $0.165 per month each year after) — payable through the insurance commissioner beginning March 1, 2027. Insurers must file an annual statement by March 1 and cannot shift this cost onto enrollees, so their operating costs will rise and they face new filing and payment risks (late penalties up to 20% plus high interest and possible authority revocation). The collected money goes into a state “abortion savings account” to fund grants for organizations providing direct patient abortion care, with the administering department expected to award at least 85% of appropriated funds as grants and to protect identifying information of providers and clients. The state treasurer and the Office of Financial Management will change how investment earnings are handled: all treasury investment earnings flow into a treasury income account, CMIA-related federal transfers and bank service payments are made first, then monthly distributions credit the general fund while many named state accounts (including the new abortion savings account) receive proportionate shares based on average daily balances. That shifts cash-management and accounting responsibilities to OFM and the treasurer and may change the monthly revenue flows to many state accounts. Important implementation details are missing here — the specific offices named as “commissioner,” “department,” and “secretary,” the full list and timing relationships across sections, and how certain sections phase in or expire tied to RCW 74.76.040 — so exact effective dates and some administrative duties remain uncertain.