Uncertainty Plagues Insurance Industry Even After ACA Repeal Failure
Republican efforts to repeal and replace the Affordable Care Act died in Congress last week – at least for now. But local insurance carriers are still struggling with a lot of unknowns under President Trump.
As the dust settles in Washington and Obamacare remains the law of the land, New Mexico Health Connections CEO Dr. Martin Hickey says things have never been so uncertain. The non-profit insurance carrier offers plans on the state exchange, and Hickey says their rates will go up 10 to 30 percent depending on the plan.
“Right now everything with this administration and healthcare is a guess,” Hickey said. “But that’s not healthy for insurance markets.”
Hickey said everything is still in limbo, at least in part because President Trump says he might withhold federal funds that help cover out-of-pocket costs for low income health insurance customers. July’s monthly payment was made, but the August one is up in the air.
Insurance carriers on the New Mexico exchange already submitted their proposed premiums for 2018 and are waiting to hear back from the state on those.