Blue Cross and Blue Shield of Louisiana President Steven Udvarhelyi, MD, said immediate repeal of the ACA would spur insurer exits from the state's individual market and destabilize it, reports The Town Talk.
Dr. Udvarhelyi said his two largest concerns regarding ACA repeal are Congress getting rid of reimbursements for subsidies companies give to low-income customers and changing payments to insurers who take on more expensive and unhealthy customers. More than 131,000 Louisiana residents receive subsidies to offset their health plan costs.
While opposing a hasty repeal, Dr. Udvarhelyi said BCBS has not prospered in its ACA exchange business, losing more than $200 million over the last three years.
"Those losses aren't sustainable, so clearly we believe changes need to be made," he told The Town Talk. "Many companies have already exited the individual market. If we get a rapid repeal and financial penalties to the insurers, I think you'll see a lot more companies drop out in 2018. It's not a sustainable model."
House Speaker Paul Ryan (R-Wis.) said Thursday Republicans are poised to simultaneously repeal and replace the ACA within President-elect Donald Trump's first 100 days in office.