The US Senate is racing to conceive a bipartisan solution to keeping health insurance premiums at a minimum for low income Texans.
Health insurance in Corpus Christi for the Affordable Care Act (ACA) is still alive. Congress has two Senators leading a bipartisan effort to have a proposal ready by the end of this week to stabilize the ACA’s individual insurance markets for the coming two years.
By this Friday, October 6th, Senator Lamar Alexander and Patty Murray are looking to have a proposal in the hands of Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer. This proposal will stabilize Corpus Christi Health Insurance rates and the entire country for that matter.
The strategy is to have more than two Senators agree to this bill, but also pull in a total of 51 Senators, both Democrat and Republican, on a proposal that could pass after three failed attempts. At the same time, Insurance rates were finalized on September 27th, giving Insurance companies little time to rally behind such a bill, for they will have to do so by the end of October. Open Enrollment for the Obamacare starts on November 1st and lasts until December 15th. This year, shortened by 45 days. This creates a short window of opportunity, but both Senators are optimistic about their proposal.
For low income Americans, cost sharing payments provided by the federal government has been a way to subsidize high premium cost making more plans affordable. This year, cost sharing payments are worth 7 billion dollars, but have not been guaranteed by the Federal Government. Extending Federal cost sharing has had unanimous support from state Insurance regulators, governors, health care executives and others who testified in September, at hearings before the Senate Health Committee.
“To put it bluntly, our goal is to avoid chaos in individual markets, such as health insurance in Texas, where premiums are skyrocketing and up to 5 million people literally might not be able to buy insurance at all in that market because no company was willing to sell insurance,” Alexander said.
Whether-or-not a bill can pass votes through both the Senate and the House of Representatives, then signed by the President would be against all odds in this political environment. Non-the-less, both sides of the idle would agree that something needs to be done before November 1st, to not only reduce health insurance rates in Corpus Christi, but also reduce rates nationally.
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