Loss of low-income subsidies in R.I. would push up health-insurance premiums
President
More than half of the 29,300 residents who buy coverage on the exchange -- about 16,400 people -- qualify for the federal cost-sharing subsidies, according to
Even if the federal government stops the subsidies, insurers are still required by law to offer the reduced-cost coverage for low-income residents who earn up to 250 percent of the federal poverty level -- up to
"As a business, we have to make sure we remain financially healthy, because we provide services for over 200,000 Rhode Islanders," said
"An increase like that in
(Neighborhood had assumed that the cost-sharing subsidies would continue, he said, when it asked last month for a 5-percent rate hike, on average, for its individual plans in 2018.)
The cost-sharing reductions "play a vital role in helping low- and moderate-income residents, who do not qualify for Medicaid, gain access to quality health care,"
The commissioner has asked Neighborhood and
Another option discussed by state insurance commissioners who met in
Ganim said she is encouraged by the efforts of a coalition of attorneys general to preserve the cost-sharing subsidies.
Last week, the
"The office was not provided sufficient time to properly review and evaluate the complex legal issues as they pertained to
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On Twitter: @LynnArditi
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