Bill to stabilize health insurance marketplace and lower premiums quoting : News plex

The Individual health insurance Marketplace Improvement Act would create a permanent reinsurance program for the individual health insurance market, which is similar to the programs used to lower premiums and encourage competition in the Medicare Part D program. U.S Senators Tim Kaine of Virginia and Tom Carper of Delaware have introduced a bill to stabilize the individual health care marketplace and lower premiums. According to a release, the program would provide funding to offset larger than expected insurance claims for health insurance companies that participate in the stat and federal insurance marketplaces. The program would provide federal funding to cover 80 percent of insurance claims between $50,000 and $500,000 2018 to 2020. "The only way to get health care right in this country is for both parties to work together on real solutions for all Americans," added Kaine.




Under the ACA, an employer's choice of state standards is trivial because federal regulations require that all states' essential health benefits include 10 core services. […] Suppose that Utah obtains a waiver that eliminates all essential health benefits. […] The Republican bill's waivers of essential health benefits threaten coverage not just for the individual market but also for the roughly 134 million Americans covered through large employers. Importantly, under current regulations a large employer can choose to apply any state's standard for essential health benefits for purposes of determining the scope of the ACA's ban. Healthcare analysts have been warning for weeks that the affects of Trumpcare will bleed into the entire insurance marketplace, including group plans provided through employers.

Cleveland Clinic dives into health insurance market

In partnership with New York City-based Oscar Health, Cleveland Clinic announced it is making its first entrance into the health insurance market with a product bearing its name. "It's about avoiding an unnecessary trip to the doctor or a stay in the hospital, whenever possible, through better patient education, better access to care, better care coordination, better behaviors and, ultimately, better health," Donley said. The health insurance startup was founded in 2012 and operates in the individual and small group markets. Members will be matched with an Oscar Health Concierge Team of a nurse and three care guides, as well as a Cleveland Clinic care team of a primary care provider, physician assistants and other allied health professionals. Pending regulatory approvals, the co-branded health insurance plan will be available to consumers in Cuyahoga, Summit, Lorain, Medina and Lake counties beginning this fall, with coverage beginning Jan. 1, 2018.


collected by :Lucy William

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