Insurers are putting on the pressure as cost of premiums rise and more insurers exit the exchanges that were originally set up to provide universal health care under the Affordable Care Act, according to reports.
“In less than six months we have to turn around and prepare strategies for 2018,” according to Alissa Fox, the top lobbyist for the Blue Cross Blue Shield Association. The organization currently dominates the individual insurance market in most of the US states.
“The sooner we get these changes which we’ve been urging all year long the sooner we’ll get on a better track for the future.”
Among others, Fox said the association is lobbying for tighter criteria for determining who can sign up outside the open enrollment period; exclusion of individuals who are just signing up to the exchange because of sudden illness; and limiting the enrollment of individuals for private insurance to maximize the reimbursement of costly procedures.
Another option proposed by Joel Ario, a former Obama administration health official, will extend the exchanges’ three year reinsurance program, which will be terminated this year. Under the said scheme, fees will be collected from employer and union plans, as well as insurance companies.
“Some form of reinsurance is, I think, important to continue,” Ario explained. He is now a managing director with Manatt Health Solutions.
President Barack Obama also indicated that he was keen on giving more tax credits to encourage younger enrollees to sign up to the exchanges, a measure that is flying with insurers.