POLITICO Pulse talked to L.A. Care CEO John Baackes for "Insurers prepare for double-digit rate hikes (again)". The piece comments on how health insurers in the Affordable Care Act (ACA) marketplace will have to increase premium rates — likely in the double-digits — for 2019, given the recent spending bill signed by the President last week.
"The fact that it fell apart is just so disheartening," said John Baackes, CEO of L.A. Care Health Plan.
Despite strong efforts by health advocates, the House dropped cost-sharing reduction payments and reinsurance funding from the Omnibus bill before sending it on to the Senate. The two proposals were last chance, key cost-saving measures that would have helped keep ACA consumer premiums affordable. It's expected that next step efforts to stabilize the ACA will have to wait until September when talks about budget begin once again.
About L.A. Care Health Plan
L.A. Care Health Plan is a public entity and community-accountable health plan serving residents of Los Angeles County through a variety of health coverage programs including L.A. Care Covered™, Medi-Cal, L.A. Care Cal MediConnect Plan and PASC-SEIU Homecare Workers Health Care Plan. L.A. Care is a leader in developing new programs through innovative partnerships designed to provide health coverage to vulnerable populations and to support the safety net. With more than 2 million members, L.A. Care is the nation’s largest publicly operated health plan.