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Statement to the Senate Committee on Health, Education, Labor & Pensions on Stabilizing Premiums and the Individual Market for 2018
The U.S. Senate Committee on Health, Education, Labor and Pensions (the “Committee”) held 2 hearings on “Premium Stabilization and Helping Individuals in the Individual Insurance Market for 2018”. During the first hearing, held on September 6th, the Committee heard testimony from state insurance commissioners and during the second hearing, held on September 7th, the Committee heard testimony from state governors.
In response, the U.S. Chamber of Commerce submitted a statement for the record for each hearing reiterating two important initial steps Congress can take to rein in soaring premiums in the individual market and preserve the last remnants of choice in the exchanges: 1.) Suspend the health insurance tax for 2018 and 2019; and 2.) Fund and honor the cost sharing reduction payments through 2019.