Today, every single Republican state insurance commissioner testifying to the Senate HELP committee about stabilization of the Affordable Care Act called for the continued payment of cost-sharing reductions (CSRs) that are critical in order for 7 million working Americans to have healthcare, and without which premiums for benchmark marketplace silver plans would skyrocket by 25%.
Donald Trump has repeatedly threatened to cease the payment of these funds, resulting in needless uncertainty that insurance companies have stated is the cause of double-digit premium rate hike requests.
America’s doctors and hospitals, patient advocacy organizations, and the U.S. business community have all appealed to Trump personally to guarantee payment of CSRs and remove the turbulence he has injected into marketplaces across the country.
“Donald Trump should listen to these insurance commissioners from his own party and immediately end his campaign to sabotage the state insurance marketplaces,” said American Bridge spokesperson Andrew Bates. “Trump has forced marketplaces into chaos and it’s costing families every single day in the form of higher premiums. The country overwhelmingly wants Trump to work across party lines to improve the Affordable Care Act – not undermine it.”
REPUBLICAN STATE INSURANCE COMMISSIONERS TESTIFYING TO THE SENATE HELP COMMITTEE TODAY:
Tennessee Department of Commerce and Insurance Commissioner Julie Mix McPeak: “The CSR funding issue is the single most critical issue you can address to help stabilize insurance markets in 2018. And to be clear, this issue is not an insurer bailout. CSR funding ensures that some of our most vulnerable consumers receive assistance for copays and deductibles that are required to be paid under federal law and has the effect of reducing proposed premiums increases and has a direct impact on the amount of subsidy assistance provided by the federal government.” VIDEO
Alaska Division of Insurance Director Lori K. Wing-Heier: “Uncertainty destabilizes the market. Committing to funding cost sharing reduction payments through at least 2019 will keep premium rates from increasing at even higher rate.” VIDEO
Oklahoma Department of Insurance Commissioner John Doak: “You know with, my position is, under the current Obamacare network, we must continue under the current framework we are working under unless it’s changed. We do need to continue the cost sharing agreements. I think we have consensus.” VIDEO