Creates the Health Care Affordability Act. Requires the Department of Healthcare and Family Services, in consultation with the Department of Insurance, to conduct a feasibility study to explore options to make health insurance more affordable for Illinois residents. The study shall follow best practices by other states to establish an Illinois-specific actuarial and economic analysis of demographic and market dynamics. Provides that the Department of Healthcare and Family Services, in consultation with the Department of Insurance, shall develop and submit a proposal to the General Assembly and the Governor concerning the design, costs, benefits, and implementation of a State option for health care coverage that leverages existing State infrastructure.