Working group looking at reducing health insurance premiums
HELENA, Mont. (AP) — The state of Montana has created a bipartisan working group with the goal of finding a way to stabilize premiums for health insurance policies under the Affordable Care Act.
The group will look at the possibility of creating a re-insurance program — a fund that would protect insurers from high medical claims and could reduce premiums by 10 to 20 percent.
The office of Auditor and Insurance Commissioner Matt Rosendale noted Gov. Steve Bullock vetoed a bill passed by the 2017 Legislature that would have allowed Rosendale to propose such a plan, which requires a federal waiver. Bullock said the bill would have given the insurance commissioner too much power.
The working group announced Wednesday is tasked with drafting legislation for the 2019 Legislature that includes a way to fund and manage the re-insurance pool. Eight states have similar plans.