Senate health panel works to craft insurance stabilization bill

The Senate’s health committee will work to develop legislation to stabilize the individual market before insurers make their final decision on whether to participate in the exchanges, Sen. Lamar Alexander (R-Tenn.) said.

Insurance companies have until Sept. 27 to sign contracts to sell plans on the federal exchange, but many have voiced concerns that there is too much uncertainty surrounding the cost-sharing subsidies to commit to the marketplace.

Alexander, chairman of the Senate Health, Education, Labor and Pensions Committee, said millions of Americans who receive government subsidies to purchase health insurance may find themselves with no plan options unless Congress acts.

The committee will hold hearings starting in early September to craft legislation to protect the insurer subsidies. The hearings will include input from insurers, state officials and others, Alexander said.

“If your house is on fire, you want to put out the fire, and the fire in this case is the individual market,” Alexander said.

Any resulting legislation would aim to stabilize the individual market next year by keeping premiums down.

Alexander said he has asked President Donald Trump to help the Senate by continuing to pay the cost-sharing reduction payments through the end of September. Trump has threatened on Twitter to cut off the subsidies after the Senate failed to pass legislation repealing the Affordable Care Act.