Iowa Stopgap Measure Economic and Actuarial Analysis Released

DES MOINES, Iowa, Aug. 10 -- The Iowa Department of Commerce's Insurance Division issued the following news release:

Iowa Insurance Commissioner Doug Ommen today released an independent economic and actuarial analysis required by the Centers for Medicaid Services (CMS). Iowa's ACA market is collapsing and the Stopgap Measure is Iowa's solution to ensure all Iowans have a health insurance option in 2018.

"The economic and actuarial analysis compares Iowa's individual health insurance market as it would be with the waiver implemented and without the waiver. The analysis clearly finds that the Iowa Stopgap Measure is a better alternative for Iowa than the ACA. The Iowa Stopgap Measure will help tens of thousands more Iowans have coverage," Ommen said. "Iowans who purchase their own health insurance are at a breaking point as the ACA market is collapsing. Many Iowans are considering going uninsured. The Iowa Stopgap Measure is a short-term solution available to Iowans in all of Iowa's 99 counties. To put it simply - Iowa needs the flexibility to do what works for us so as few Iowans as possible are priced out of the individual health insurance market."

The economic and actuarial analysis finds Iowa's Stopgap Measure meets federal economic and actuarial requirements. Iowa's Stopgap Measure will provide more health insurance coverage, more affordable health insurance coverage, comprehensive health insurance coverage, and will not increase the federal deficit. The Iowa Stopgap Measure innovatively redirects the federal funds that would have flowed into Iowa under the ACA in 2018 into age- and income-based premium credits as well as into a reinsurance mechanism to protect the most vulnerable Iowans in the risk pool while lowering costs for the risk pool.

"We are now in the process of putting together the final waiver application for CMS and we look forward to CMS Administrator Verma's approval of the Iowa Stopgap Measure," Ommen said.

Iowans can visit https://iid.iowa.gov/iowa-stopgap-measure to:

* Review the Iowa Stopgap Measure

* Review the economic and actuarial analysis

* View video of the public hearings

* Get information for the upcoming public hearings tonight in Cedar Rapids and on Monday, August 14, in Des Moines

* View public comments that have been submitted

* Submit their own comments by 5 p.m. on Wednesday, August 16.