AMODEI VOTES ON STEPS TO LOWER HEALTH CARE PREMIUMS FOR ALL AMERICANS

The following information was released by the office of Nevada Rep. Mark Amodei:

Rep. Mark Amodei issued the following statement after voting in favor of the Lower Health Care Premiums for All Americans Act, a targeted health care plan designed for Americans, not insurance companies.

The bill reduces health insurance premiums and expands coverage options by increasing transparency in prescription drug pricing, stabilizing the individual market, and giving employers and workers greater flexibility and choice in obtaining health insurance.

While our work to rein in rising health care costs, which have been exacerbated by a deeply flawed system, is far from over, this marks a step in the right direction. This week, House Republicans advanced a long-term strategy to shift the focus of health care back to serving patients instead of insurance companies.

This legislation sets a path forward to promote real affordability by lowering premium costs and expanding choices for workers, families, and small businesses:

Funding Cost-Sharing Reductions (CSRs)

Appropriates cost-sharing reduction payments which will lower premium costs by 11% and reduce out-of-pocket costs like deductibles and copays for low-to-moderate income people.

While CSRs are designed to assist people in silver plans who fall between 100% and 250% of the Federal Poverty Level, reimbursing insurers for these reduced out-of-pocket costs will help lower premiums across the entire market.

Approximately 40,000 Nevadans would qualify for cost-sharing reductions.

Appropriating the CSRs is expected to lower ACA plan premiums in Nevada by $716 annually.

In 2017, 196 House Democrats, many of whom remain current members, signed a letter in support of exactly what this provision accomplishes.

Promotes Transparency and Reduces Hidden Drug Costs

For reference, a Pharmacy Benefit Manager (PBM) is a company that manages prescription drug benefits for health insurers and employers by setting drug coverage rules and negotiating prices with drug manufacturers and pharmacies.

Requires PBMs, to provide employers with detailed reports on drug costs, rebates, formulary decisions, and spread pricing.

Provides employers and employees with the PBM transparency they deserve to help negotiate better prices and improve access to prescription medications.

Expands Access to Plans for Small Businesses and Independent Workers

Lets small businesses and self-employed workers team up to expand choices and lower premiums by up to 30 percent.

Establishes association health plans (AHPs) as single, large employers for purposes of the Employee Retirement Income Security Act (ERISA).

Allows employers to offer individual coverage health reimbursement arrangements (ICHRAs).

Protects the ability for small businesses to purchase stop-loss insurancea way for job creators to manage the cost of unexpected serious medical claims.

Restores President Trump's 2018 executive order, rescinded under the Biden Administration, that the Congressional Budget Office estimated would enroll 3.7 million Americans in Association Health Plans and extend coverage to 400,000 previously uninsured individuals.

Obamacare was sold to the American people on the premise that it would lower costs, expand access and choice, and better support the people it was created to help. But today, hospitals are struggling to stay open, premiums rise year after year, patient options have dwindled, and fraud has infiltrated the system, allowing big insurance to come out on top while Americans are left behind.

So, for those who think Republicans are doing nothing, I would humbly beg to differ. More information on health care from us after the holidays.