House lawmakers advanced a proposal by Gov. Kim Reynolds to submit a waiver to the Centers for Medicare and Medicaid Services as the first step to establish statebased health insurance in Iowa.
The proposal, House Study Bill 721, is one of Reynolds' legislative priorities, as she says federal health insurance under the Affordable Care Act continues to remain expensive and uncertain.
Reynolds' Chief of Staff Molly Severn said a state-run program would lower health insurance costs for Iowans after an expiration of enhanced ACA subsidies caused premiums to skyrocket for many.
"If Congress is unable to fix the Affordable Care Act, Iowa must explore opportunities to reduce costs at the state level," Severn said during a meeting subcommittee Thursday morning.
A similar effort was attempted in 2017, when Iowa lawmakers tried to establish a similar state-run system, but it was unsuccessful.
Multiple representatives for health insurance companies and groups remained either undecided or in support of the legislation.
Democratic Rep. Austin Baeth of Des Moines questioned Reynolds' staff during the subcommittee meeting on whether there would be more oversight of the waiver submission, which would be solely handled by the Iowa insurance commissioner under the bill. He suggested that there be a broader advisory committee overseeing the waiver submission.
Baeth, who sat on the three-member subcommittee, declined to advance the legislation. Republican Reps. Brett Barker of Nevada and Shannon Lundgren of Peosta agreed to advance the bill.
Shell Asset Management Co. Has $668,000 Stake in Ameriprise Financial, Inc. $AMP
Exclusive: House GOP panel subpoenas 8 health insurers
Advisor News
- Are families ready for the costs of aging at home?
- When a client moves, their insurance plan needs to move, too
- A rising retirement challenge: The license to spend
- Financial stress leaves less room for retirement saving
- Giving while you’re living: 3 frequently asked questions about gifting
More Advisor NewsAnnuity News
- Global Atlantic names Dan Farrelly head of IMO and IBD channels
- A rising retirement challenge: The license to spend
- What lower interest rates mean to annuity payouts
- AM Best downgrades A-Cap insurers amid financial and regulatory troubles
- Lawsuit claims Delaware Life hid billions in insurer-linked investments
More Annuity NewsHealth/Employee Benefits News
Life Insurance News