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Statement of ACAP on Bipartisan Bill to Stabilize Marketplace Coverage
FOR IMMEDIATE RELEASE: October 20, 2017
FOR MORE INFORMATION: Jeff Van Ness, (202) 204-7515
STATEMENT OF ACAP CEO MARGARET A. MURRAY ON
BIPARTISAN BILL TO STABILIZE MARKETPLACE COVERAGE
WASHINGTON—Margaret A. Murray, CEO of the Association for Community Affiliated Plans (ACAP), made the following statement on the bill recently introduced by Senators Lamar Alexander (R-Tenn.) and Patty Murray (D-Wash.) which would improve the stability of health insurance Marketplaces and provide for additional state flexibility in the individual market:
“This bill is a step in the right direction. It would calm the considerable uncertainty that has roiled the individual market since January, and lower the temperature on the debate around the individual market.
“Many insurers have left the market owing to the uncertainty surrounding the fundamental business conditions of the Marketplaces. This bill will bring some stability to these business conditions and keep health plans in the market. There’s still more work to be done, but this bill signals a commitment to improving the marketplaces.
“The central condition this bill addresses are the cost-sharing reimbursements to plans. The Congressional Budget Office has estimated that without these reimbursements, premiums would increase by up to 20 percent over and above what they would have without them. Although the higher rates for coverage year 2018 are set, this bill will dial down the pressure on premium increases for coverage year 2019 and will prevent potentially catastrophic losses in the final 3 months of 2017. Our 18 plans in the Marketplace expect losses in the range of $75 million in the fourth quarter of this year.
“We applaud Senators Alexander and Murray for their leadership, and call on both houses of Congress to pass this bill with all due speed. ACAP views this bill as the beginning, not the end, of a more constructive dialogue around improving health coverage for the more than 11 million Americans who receive it through Marketplaces.”
About ACAP
ACAP represents 61 nonprofit Safety Net Health Plans in 29 states, which collectively serve more than 21 million people enrolled in Medicaid, Medicare, the Children’s Health Insurance Program (CHIP), and other public health programs. For more information, visit www.communityplans.net.
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