Vice President Mike Pence reminded a Nashville audience Thursday night that voters put President Donald Trump and him into office in part to repeal the collapsing and expensive Affordable Care Act. And, he said, despite efforts that have fallen flat so far, “this ain’t over. This ain’t over by a long shot.”
Nevertheless, the health care measure is currently the law of the land, millions of people bought into it, and insurance companies initially lined up to be a part of it. After losing millions on what has come to be called Obamacare, many of the insurance companies have fallen away, but the ones who have stuck it out have a deadline coming up – and coming up quickly.
Companies that want to sell insurance on the federal exchange next year have until Sept. 27 to sign a contract with the federal government. If Obamacare were going away, they might be reticent to sign such a contract. If they thought the president was going to in some way lessen payments that would impair their ability to break even on providing coverage, they might not sign a contract.
Up to now, insurance companies that have stopped offering coverage on the federal exchange have done so because of their bottom line. Now, in addition to their bottom line, they have the uncertainty of what may happen to the law as a whole. The flaws of the health care measure – and they are legion – aside, insurance companies and individuals who purchased coverage with them deserve to know what to expect.
That’s where Tennessee Sen. Lamar Alexander wants to help. Earlier this week, he said the Senate health committee he chairs will hold hearings beginning the week of Sept. 4 on “actions Congress should take to stabilize and strengthen the individual health insurance market so that Americans will be able to buy insurance at affordable prices in 2018.”