The Senate Health committee continues hearings on individual Insurance Markets. Today experts are testifying to increase flexibility. This is the third of four hearings and then the committee hopes to have a bill in the senate shortly. Insurance companies have until september 27 to file rates for next year and federal contributions are due at the end of that day this is live coverage on cspan. Mr. Bragdon to all high value providers. Thank you. I encourage the committee to consider these two recommendations. Senator alexander thank you, mr. Bragdon. Mr. Tyson. Mr. Tyson to the chair and Ranking Member murray, members of the committee, its an honor to be here this morning to speak to you about this important issue. There are two important laws for the health and wellbeing of the American People who are not covered by an employer and or has the personal wealth to buy their own coverage. I think about this very often. They are, of course, the Social Security act that brought us medicare a
Labor and pensions will come to order this morning. We are holding our third of for hearings on stabilizing the cost of premiums and ensuring americans are able to purchase insurance in the individual Insurance Market in 2018. This is the market were 6 of insured americans, that is 80 Million People by their insurance. Those who dont get insurance through medicaid while on the job. For the past fee years, the cost of premiums in the individual market copays deductibles up and skyrocketing in many states. Half of these 18 million americans have government subsidies to cushion the blow of the rising prices. Many of those who find themselves in the other half are being priced out of the Insurance Market that they simply cannot afford. That is why these hearings have a narrow objective. Congress and the president do between now and the limit the month to help premium increases in 2018 and lower premiums after that. We heard in our hearings last week that there was also a danger that if we
Labor and pensions will come to order this morning. We are holding our third of for hearings on stabilizing the cost of premiums and ensuring americans are able to purchase insurance in the individual Insurance Market in 2018. This is the market were 6 of insured americans, that is 80 Million People by their insurance. Those who dont get insurance through medicaid while on the job. For the past fee years, the cost of premiums in the individual market copays deductibles up and skyrocketing in many states. Half of these 18 million americans have government subsidies to cushion the blow of the rising prices. Many of those who find themselves in the other half are being priced out of the Insurance Market that they simply cannot afford. That is why these hearings have a narrow objective. Congress and the president do between now and the limit the month to help premium increases in 2018 and lower premiums after that. We heard in our hearings last week that there was also a danger that if we
And im sorry but what you mean is when people are buying insurance if the Health Benefits are changed and insurance policies are allowed to not cover certain things is it going to become more complicated to buy insurance. Thats right, senator. I dont think others is the way to im happy to respond, senator. There is a bit of ambiguity, in my view. There is a concept thats often used referred to actuary equivalency rather than to try to look at a list of benefits and say they have to be provided at the same level you can create some flexibility. If this were a car we would say its a 25,000 car. You need a motor but some believe its also essential to have a backup camera. You could have a 200 horsepower motor or you could have a 300 horsepower motor all for 25,000. You choose the list of options and how you will weigh them. Its my view that the state flexibility would be profoundly enhanced if rather than just speak of comprehensiveness, if it could be equivalent comprehensiveness if they
Hearing senator murray and i will each have an Opening Statement and will introduce our five witnesses. After their testimony senators can ask the witnesses five minutes of questions. To begin, we ought not take for granted the three hearings this committee is had over the past ten days. For seven years, hardly civil word was spoken between republicans and democrats on the affordable character. It was trump care versus obama care, day in and day out. For the last ten days senators have engaged in serious discussion for several hours at a time about what congress can do between now and the end of this month. To help limit premium increases for 18 million americans next year. And begin to lower premiums in the future. And also prevent insurers from leaving the markets for those 18 million americans by insurance. Last week between the meetings held before hearings like the we had today and the hearings half of the senators participated in bipartisan conversations about Health Insurance. I