An attempt in Congress to stabilize the health insurance market came one step closer to reality as two senators announced a bipartisan deal to restore cost sharing reduction payments to health insurers.
Last week, President Donald Trump said he would cut off the payments, which provide subsidies to health insurers to offset the costs of providing coverage for low-income consumers under the Affordable Care Act.
Sen. Lamar Alexander, R-Tenn., and Sen. Patty Murray, D-Wash., announced the plan to stabilize the individual health insurance marketplace with open enrollment for 2018 scheduled to begin in two weeks.
As one part of the deal, the subsidies would be funded for two years, a step that would provide at least short-term certainty to insurers.
The deal between Alexander, the chairman of the Senate health committee, and Murray, the panel’s top Democrat, is an important step for lawmakers hoping to shore up insurance markets after Republicans’ failed efforts to repeal the health law.
Susan Rupe is managing editor for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at [email protected].
© Entire contents copyright 2017 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.