Health Insurance Rates on Exchange Likely to Go up Without Congressional Action
By Megan Messerly, The Nevada Independent Nevadans who purchase insurance on the health exchange and don’t qualify for subsidies from the federal government saw hefty increases in their premiums last year, and those rates are likely to increase again this year unless Congress takes action in the next few weeks. A deal to stabilize the Affordable Care Act seemed possible as Congress headed toward passing an omnibus spending bill last week, but ultimately fell apart over a debate about abortion restrictions. Now, it seems unlikely that lawmakers in Washington will take up a measure that would provide some assurances as insurance companies prepare to submit their rates to the state in May, and lawmakers here in Nevada aren’t scheduled to meet again until February, ruling out a possible state-level fix, said Heather Korbulic, executive director of the Silver State Health Insurance Exchange. “I’m hopeful that we could get something passed in the next four weeks, but I don’t anticipate that’s going to happen,” Korbulic said. Those who purchased insurance on the exchange last year and qualify for federal subsidies — meaning they make up to 400 percent of the federal poverty level, or $98,400 for a family of four — were largely shielded from the increases in insurance premiums that went into effect largely as a result of the Trump Administration’s decision to stop funding so-called cost-sharing reduction subsidies....
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