Senate Business & Commerce Testimony, Health Insurance Market Stability: January 23, 2018

Senate Business & Commerce Testimony, Health Insurance Market Stability: January 23, 2018

 

 

On January 23, 2018 TCCRI submitted written testimony to the Senate Committee on Business & Commerce regarding health insurance market stability.

It goes without saying that the Affordable Care Act—even after the repeal of the individual mandate—remains one of the most troubled reforms in modern history.

More than half of the ACA’s state-run health insurance exchanges and consumer oriented and operated plans (CO-OPs) have collapsed primarily due to insolvency, others are facing financial instability.

Premiums have continued to rise and a 2017 report found that average insurance enrollees now pay 229% more towards their deductibles. All of this while many enrollees have only one or two plans to choose from and preferred provider organization (PPO) options are almost nonexistent.

The best option would be for Congress to repeal the ACA in its entirety, but for now, the states are left to discuss what they can do to stabilize and strengthen the health insurance marketplace within the ACA’s constraints.

                                                                          Click here to read the full testimony.