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The Congressional Budget Office found that if President Donald Trump opts to halt certain insurance subsidies it would increase the federal deficit by $194 billion and cause the premium costs for a popular Obamacare plan to increase significantly.
The Business Journal examines the likely choices facing Covered California enrollees in the Central Valley. In national marketplace news, Nevada’s insurance “bare markets” now appear to be covered with a Centene deal.
Sen. Bill Cassidy (R-La.) says his sweeping proposal is “about the only game left in town.” Meanwhile, Sen. Bernie Sanders (I-Vt.) is preparing to introduce his Medicare-for-all plan.
State officials are proposing that insurers who lose money on the health insurance marketplace in 2018 be allowed to recoup those losses by taking higher profits in the following three years.
In Washington, the subsidies for insurers have become a hot topic in the health care debates, but state insurance commissioners are more concerned about what they’ll actually have to do if they’re cut off. Without the federal subsidies, insurers would need to get the money — estimated at $7 billion to $10 billion next year — from another source.
An ad has been launched to target candidates Bryan Caforio in the 25th District and Josh Harder in the 10th District. Meanwhile, the issue was the impetus for a lot of political spending in California this year.
The insurer also plans to increase 2018 premiums for its remaining plans under the Affordable Care Act by 55 percent and to cut 1,500 jobs.
Assembly Speaker Anthony Rendon (D-Paramount) killed the single-payer bill that was introduced in the Legislature because he said it was “woefully incomplete.”
The insurer says the upcoming cuts to 10 percent of its workforce is driven by losses to its Obamacare exchange business.
Western Health Advantage says the Sacramento region and the San Francisco region have become “one mega-region,” so it makes sense to expand coverage for the area.