Anthem says Obamacare rates to rise if funds for poor stop
Anthem on Wednesday threatened to raise rates for its Obamacare plans next year if the U.S. government stops funding subsidies for lower-income customers, putting pressure on the administration and Republicans to support a key piece of the health law.
Chief Executive Officer Joseph Swedish said on a conference call that the insurer would raise its rates by 20 percent if the subsidies aren’t paid to insurers. The subsidies are currently the subject of a political debate in Washington and it’s unclear whether President Donald Trump’s administration will continue to fund them.
The insurer is also considering exiting some Affordable Care Act markets altogether, as many of its rivals have already done. Swedish said Anthem is “assessing our market footprint in 2018.”
“We expect to provide additional clarity on our 2018 market footprint during our second-quarter earnings call, if not sooner,” he said.
https://www.msn.com/en-us/money/healthcare/anthem-says-obamacare-rates-to-rise-if-funds-for-poor-stop/ar-BBAoCrs?li=BBnbfcN&ocid=edgsp
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