Anthem CEO: AHCA addresses immediate challenges facing individual market

Joseph Swedish, CEO of Indianapolis-based Anthem, said certain proposals outlined in Republicans' ACA replacement bill, the American Health Care Act, are "essential and must be finalized quickly" to address issues in the individual insurance market, according to a letter obtained by the Morning Consult

Here are five takeaways from Mr. Swedish's letter.

1. Mr. Swedish sent the letter to the House's Energy and Commerce and Ways and Means Committees March 9. Both committees have since approved the AHCA.

2. The executive highlighted "critically important" provisions put forth in the AHCA, including establishing the Patient and State Stability Fund, repealing the ACA's health insurance tax, maintaining the ACA's cost sharing reduction subsidies and allowing the use of tax credits for health plans sold off public exchanges. 

3. Mr. Swedish wrote, "The American Health Care Act addresses the challenges immediately facing the individual market and will ensure more affordable health plan choices for consumers in the short term, including through the expanded use of health savings accounts."

4. He added Anthem is evaluating the legislation to understand its effects on the Medicaid program. Mr. Swedish said Anthem looks to "ensure continuation of comprehensive Medicaid benefits," according to the letter. 

5. Every major hospital entity in the U.S. has expressed opposition to the AHCA and the replacement proposal has come under fire by some conservative groups. 

More articles on payer issues:
What the AHCA means for insurers: 7 things to know
Children's Minnesota dumps contract with BCBS
Iowa Medicaid payers report more than $100M in losses in 2016

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