Tester Bill Brings Certainty to Health Insurance Markets
Senator: Businesses and Families Need Certainty, and This Bill Delivers
(U.S. Senate) - U.S. Senator Jon Tester is sponsoring legislation to bring certainty to Montana businesses, families, and insurance companies.
Following Montana's insurance rate filings earlier this week, Tester sponsored the Marketplace Certainty Act to ensure the U.S. Department of Health and Human Services stabilizes health insurance markets by making cost-sharing reduction (CSR) payments. CSR payments help lower out-of-pocket costs for consumers.
"Washington should not be trying to destabilize Montana's insurance market," Tester said. "I've heard time and time again: businesses and families need certainty. This legislation will give Montana insurers the certainty they need to avoid unnecessary insurance rate hikes for the individual marketplace in Montana."
Montana insurance companies and the Montana Chamber of Commerce support continued CSR payments.
Earlier this month, Tester sent letters to Insurance Commissioner Matt Rosendale and Montana insurance companies urging more transparency as they file their rates for the coming year.
PacificSource and the Montana Health CO-OP filed single-digit rate increases under the assumption that CSR payments would continue. Blue Cross Blue Shield filed a double-digit rate increase due to the uncertainty caused by the Administration and the unpopular Better Care Reconciliation Act.
"Montanans deserve to know why their insurance rates are going up," Tester said. "We are seeing it right here in Montana, the uncertainty caused by this Administration and Congress is forcing Montana's insurers to dramatically raise rates-Congress needs to be working together to stop this."
The Marketplace Certainty Act can be found HERE.