Sen. Ernst Cosponsors Bipartisan Bill to Help Stabilize State Insurance Markets

WASHINGTON, Oct. 24 -- The office of Sen. Joni Ernst, R-Iowa, issued the following news release:

Today, U.S. Senator Joni Ernst (R-IA) cosponsored bipartisan legislation put forth by the Chairman of the Senate Committee on Health, Education, Labor, and Pensions, Lamar Alexander (R-TN), and Ranking Member, Patty Murray (D-WA), that would improve flexibility, expand choice, and help stabilize state health insurance markets for 2018 and 2019.

"As I have said, time-and-time again, continuing the status quo in Iowa is simply not an option," said Senator Ernst. "This bipartisan bill will work to help stabilize the markets for the next two years, give permanent flexibility to states like Iowa, and offer more choices to consumers on the individual market. While I was disappointed that the Senate was unable to advance important changes to ObamaCare earlier this year, I remain committed to working to find ways to repeal and replace ObamaCare, and provide relief for Iowans suffering from skyrocketing premiums and dwindling individual market options."

About this Legislation:

* Provides more flexibility and reduces red tape to allow states to reform their individual market, and bring more affordability to consumers in the individual market.

* Requires U.S. Department of Health and Human Services to issue regulations regarding interstate compacts, which could allow people to buy insurance across state lines.

* Expands choice by lifting the income and age restrictions on cheaper insurance plans.

* Continues Cost Sharing Reduction (CSR's) payments, which will help stabilize insurance markets, for the rest of 2017, and then funds them for 2018 and 2019.