Iowa’s lone ObamaCare insurer has requested a 57 percent rate increase for 2018, citing uncertainty over how the Trump administration will handle the healthcare law.
In a revised rate request, Medica on Wednesday asked for an increase 13 percentage points higher than its original request filed in June.
Medica and other insurers have worried about whether the Trump administration will continue funding key Obamacare payments known as cost-sharing reductions.
The Trump administration is giving insurance companies an extra three weeks to decide whether to offer insurance plans through the Affordable Care Act markets, and how much to charge.
The extension comes as insurance companies wait for President Trump to decide whether he will continue to make payments to insurance companies that are called for under the Affordable Care Act but that some Republicans have opposed.
The payments — known as cost-sharing reduction payments — reimburse insurance companies for discounts on copayments and deductibles that they’re required by law to offer to low-income customers. The Congressional Budget Office estimates the payments this year would be about $7 billion.
The Trump administration, thwarted in several attempts to repeal the Affordable Care Act, notably shifted tone Wednesday, opening the door for a bipartisan plan to “fix” the law.
“Both folks in the House and the Senate, on both sides of the aisle frankly, have said that Obamacare doesn’t work, and it needs to be either repealed or fixed,” Health and Human Services Secretary Tom Price said on Fox & Friends. “So the onus is on Congress.”
Congress has done the unthinkable: started down a bipartisan path toward fixing a broken health-care system.
Over the past week, the House and Senate set forward plans to fix problems plaguing Obamacare. The move is a stark departure from the previous Republican plans of replacing Obamacare altogether or repealing it and punting on a solution until a later date. While it’s a welcome change in strategy that’s more likely to gain traction than repeal/replace plans, the bipartisan efforts fall short of addressing four key areas instrumental to stabilizing the Affordable Care Act for the long run.
The two recently announced bipartisan plans take different approaches to fixing Obamacare, and the differences are immediately apparent.
While arguing against getting rid of the Affordable Care Act, Ezekiel Emanuel, an oncologist and former health policy advisor in the administration of Barack Obama, told CNBC on Tuesday that Republicans and Democrats need to put politics aside to tweak urgent problems with the 2010 health-care law.
“We need to have a timeline that’s over the next few months that’s going to stabilize the exchanges, but primarily try to bring the premiums down in the exchanges,” said Emanuel, an architect of the ACA, better known as Obamacare. He’s currently chair of the Department of Medical Ethics and Health Policy at the University of Pennsylvania.
The US Senate has rejected a Republican plan to replace President Barack Obama’s signature healthcare policy.
The 57-43 vote defeat marks the start of a days-long debate on a sweeping overhaul that critics fear could deny healthcare to millions of Americans.
The Better Care Reconciliation Act (BRCA) was crafted over two months but attention now turns to other options. President Donald Trump has urged senators to pass a bill, without indicating which one he supports.
A repeal-only bill, which would consign so-called Obamacare to history in two years, to give time to Republicans to devise a replacement, could be debated and voted on next. But that measure – which non-partisan analysts say will take health insurance from more than 30 million people – has already failed to win enough support in the Republican party.
US President Donald Trump has told Senate Republicans they should postpone their summer holiday until they have kept their promise to ditch Obamcare.
Mr Trump told all 52 Republican senators at the White House: “We should hammer this out and get it done.”
In the last two days he has urged the repeal and replace of Obamacare, just repealing it, allowing it to fail, before reverting to repeal and replace.
The Republicans’ seven-year mission to overturn the law is in disarray.
Senate Majority Leader Mitch McConnell said Tuesday he is preparing to bring before the full Senate a comprehensive repeal of the Affordable Care Act — but Republican support for his plan quickly began to erode.
Three Republicans senators — all women who were left out of the core group who met to write the first draft of the Senate’s health care bill — have already come out against the move.
Sen. Lisa Murkowski, R-Alaska, was the fateful third, effectively killing the effort to repeal Obamacare without an alternative.
“I said in January we should not repeal without a replacement and just an indefinite hold on this just creates more chaos and confusion,” Murkowski told reporters.