Trump Administration Drops Reported Plans to Roll Back Health Insurance Protections for Older Ohioans Following Letter from Brown
This week, following a letter from
"Older Ohioans should not have to pay more for health insurance in order to bolster profit margins for insurance company executives," said Brown. "While I am glad the Administration has heeded our call to abandon this proposal, I will continue to work with my colleagues to fight actions that would overturn healthcare protections currently in place at the expense of Ohioans."
In a letter to U.S.
A copy of the letter is available below.
Dear Secretary Price:
We write to express our serious concerns that the Trump administration is reportedly considering a change to the Affordable Care Act (ACA) that would have the direct impact of increasing health insurance costs for older adults and ask that this policy be removed from consideration. We oppose rolling back consumer protections established in the ACA that protect older Americans from discrimination. Loosening the age rating requirements in the ACA without also expanding advance premium tax credits is a misguided policy that will make health insurance less affordable for millions of Americans.
The Affordable Care Act established age bands to limit how much insurance companies can charge to cover older adults in the non-group market. Because of the ACA, insurance companies cannot charge older adults more than three times what they charge for younger adults. Loosening the age band would allow insurance companies to increase the cost of coverage for older adults in the non-group market and lead to reduced benefits. Before ACA was enacted, some states let insurance companies charge older adults as much as 25 times more than they charged younger adults. The 3:1 age band is a critically important consumer protection for older Americans, and without including additional federal assistance to older Americans, we urge you not to undermine it.
Studies have looked at proposals to widen the age band in the ACA, and while the impact of these proposals varies depending on its details, one study has concluded that one such proposal to widen the age band would increase premium costs for adults ages 60 and older by
Congressional
Additionally, the age bands established by the ACA were codified explicitly in statute. The law states that premium rates charged by health insurance companies for coverage in the individual or small group market "shall not vary by more than 3 to 1 for adults." Clearly, as the statute shows, it was
Charging older adults higher costs for coverage on the non-group market would harm their access to care. We urge you not to widen the 3:1 age band established by the ACA.
30FurigayJof-5787625 30FurigayJof


Rep. LaMalfa Thanks the President for Disaster Relief Funding
Sen. Schumer: War on Seniors Has Begun With Confirmation of HHS Secretary Who Has Spent a Lifetime Trying to Kill Medicare
Advisor News
- Three estate planning ideas to protect your clients and their wealth
- What advisors must know about accessible client documents
- Your client texted. Now what? The compliance rules advisors better know
- Helping small-business owners build, grow and exit
- Help women break through their retirement roadblocks
More Advisor NewsAnnuity News
- NAIC working group pressed to accelerate annuity illustration overhaul
- State Auditor James Brown Kicks Off Life Insurance Awareness Month With Policy Locator Tool
- Wink: Annuity sales post strong Q2, led by MYGAs and structured products
- Legacy Marketing Group partners with Malibu Life USA for annuity launch
- Best’s Market Segment Report: Global Life/Annuity Reinsurers Remained Poised for Steady Growth
More Annuity NewsHealth/Employee Benefits News
Life Insurance News