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The benefits and limitations of state-run individual market reinsurance
The benefits and limitations of state-run individual market reinsurance
- Collection:
- Health Policy and Services Research
- Series Title(s):
- Issue brief (Commonwealth Fund)
- Author(s):
- Giovannelli, Justin, author
Volk, JoAnn, author
Schwab, Rachel, author
Curran, Emily, author - Contributor(s):
- Commonwealth Fund, issuing body.
- Publication:
- [New York, New York] : The Commonwealth Fund, November 2020
- Language(s):
- English
- Format:
- Text
- Subject(s):
- Insurance Pools
Insurance, Health -- organization & administration
State Government
United States
United States. - Genre(s):
- Technical Report
- Abstract:
- ISSUE. Cost is a major barrier for many individuals seeking to enroll in or use comprehensive health insurance, despite historic gains in coverage since the Affordable Care Act (ACA). Though state policymakers have numerous options for improving the affordability of individual market coverage, they have most often chosen to implement state-run reinsurance programs. Reinsurance has been popular with states because the ACA's temporary federal reinsurance program was successful and because state reinsurance can be funded in significant part with federal dollars available through an ACA Section 1332 waiver. GOAL. Examine the benefits and limitations of waiver-funded state reinsurance programs. METHODS. Analysis of state reinsurance programs; applicable federal and state laws, regulations, and guidance; and other state and federal proposals to address coverage affordability. KEY FINDINGS AND CONCLUSIONS. States have customized waiver-funded reinsurance to meet their specific needs. States with reinsurance have experienced significantly lower individual market premiums and stable insurer participation. However, these premium reductions generally only benefit unsubsidized enrollees and the impact on coverage take-up is unclear. States prioritizing broader improvements should consider other policies in tandem with or in lieu of reinsurance, but need federal leadership and support to succeed.
- Copyright:
- Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY license. (More information)
- Extent:
- 1 online resource (1 PDF file (13 pages))
- Illustrations:
- Illustrations
- NLM Unique ID:
- 101772718 (See catalog record)
- Permanent Link:
- http://resource.nlm.nih.gov/101772718