Eight major healthcare associations are urging the Trump administration to quickly stabilize the individual insurance market by funding cost-sharing reductions, which currently help 7 million Americans afford coverage on the exchanges.
Cost-sharing reductions help offset the cost people must pay out-of-pocket for deductibles, copayments and coinsurance. They are available to those earning less than 250 percent of the federal poverty level who choose a Silver plan on the exchanges.
The eight organizations, which include the American Hospital Association, the Federation of American Hospitals and the American Medical Association, penned identical letters to President Donald Trump and Congress, calling for the administration to commit to funding CSRs for 2018.
"A critical priority is to stabilize the individual health insurance market," the letters read. "The window is quickly closing to properly price individual insurance products for 2018."
Without certainty that CSRs will be in place, more payers may drop out of the exchanges, leaving fewer choices for consumers, according to the joint letter. Loss of CSR funding could also increase premiums by 15 percent, drive up uncompensated care costs and cause taxpayers to pay more to offset the costs of higher premiums and tax credits for low-income families, the organizations wrote.
The following organizations signed the letters to President Trump and Congress:
- AHA
- FAH
- AMA
- America's Health Insurance Plans
- American Academy of Family Physicians
- American Benefits Council
- Blue Cross Blue Shield Association
- U.S. Chamber of Commerce.
Read their message here.
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