On April 18, the Office of the Commissioner of Insurance (OCI) submitted a federal waiver to establish a reinsurance program to assist with claims costs for individuals covered through the insurance exchange (see previous Valued Voice article). The goal of the reinsurance program is to keep premium cost increases reasonable for exchange policies and to stabilize the individual insurance market. OCI anticipates premiums will decrease five percent for 2019 with the assistance of the reinsurance program.
WHA was a leading supporter of the legislative proposal to authorize the waiver. WHA recently submitted comment in support of the waiver to the Department of Health and Human Services (HHS). The public comment period closed June 8. OCI is hopeful for a decision on HHS approval by September.