ACA Markets Are ‘Very Unstable’ But Not In A Death Spiral, Kaiser Permanente CEO Says
Bernard Tyson pledged to remain in the health law’s insurance markets in contrast to moves by Aetna and other national insurers that have retreated.
The Wall Street Journal:
Kaiser Permanente Chief Pledges To Remain In Affordable Care Act Markets
Kaiser Permanente Chief Executive Bernard Tyson said Thursday that the Affordable Care Act insurance markets are “still very unstable,” but repeated earlier statements that the managed-care system will stick with the markets next year. In remarks at a Wall Street Journal Future of Healthcare event in New York, Mr. Tyson rejected the characterization by Aetna Inc. Chief Executive Mark Bertolini earlier this year that the markets were in a death spiral. “I would not use that term,” Mr. Tyson said, “because we have 20-plus million people getting access to care though the front door. That’s progress.” (Evans, 5/11)
In other news —
Trump Threatens To Stop ObamaCare Payments
President Trump on Thursday threatened to withhold key payments to insurance companies made under ObamaCare, a move that could throw the market into chaos. In an interview with The Economist, Trump said he would cut off the cost-sharing reductions (CSRs) — payments that reimburse insurers for providing discounted out-of-pocket costs to help those with low incomes afford insurance. "[T]here is no Obamacare, it’s dead. Plus we’re subsidizing it and we don’t have to subsidize it. You know if I ever stop wanting to pay the subsidies, which I will," Trump said. "Anytime I want." (Weixel, 5/11)