Title of Proposal:

Commonwealth of Virginia Health Insurance Protection Act: Establishment of a Reinsurance Program On behalf of: Bruce A Silverman, MD

Describe the Idea or Issue:

The Federal government has sought to undermine the Affordable Care Act by eliminating the individual mandate, refusing to support the cost sharing reduction payments, withdrawing funds for promotion of the Health Insurance Exchange, as well as limited the open enrollment period. All of these factors have caused instability in the individual and small group marketplace for healthcare insurance. This has contributed to rising premiums and withdrawal of insurance carriers from this market.

Desired Outcome:

With this proposal we hope to bring additional insurance carriers into the individual and small group marketplace, in addition to creating a more favorable environment for lower premiums and coverage of persons with costly medical issues.

Background/Supporting Information:

There has been bipartisan support in the US Congress for establishment of a reinsurance program to help with this situation. Unfortunately due to the abortion issue among other factors they were unable to achieve agreement. Several other states, most recently Maryland, have successfully passed legislation to help improve the individual and small group marketplace. They have also sought to bring back the individual mandate at the state level and have restricted the use of non-ACA compliant or short-term insurance policies.

Background information can be found on page 45 of appendix.

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