U.S. Rep. Tom Reed (R-NY), co-chairman of the bipartisan Problem Solvers Caucus, has brought 26 of the group’s members on board as cosponsors of a measure designed to steady the individual health insurance marketplace and make health care costs more affordable for millions of Americans.
The Bipartisan Market Stabilization and Innovation Act of 2017, H.R. 4695, introduced on Dec. 20 by U.S. Rep. Kurt Schrader (D-OR), would amend the Patient Protection and Affordable Care Act, also known as Obamacare, by helping families afford health care through the funding of cost sharing reduction (CSR) payments, providing relief to small businesses by changing the employer mandate, and repealing the medical device tax, among other proposed changes.
“It is a great day when a bipartisan group of legislators can come together on an issue as important as health care,” said Reed, who heads the caucus alongside U.S. Rep. Josh Gottheimer (D-NJ).
“I am proud to stand with my Republican and Democrat colleagues to help improve health care coverage for my constituents in New York and for Americans across the country,” Reed added in a statement on Dec. 21.
Joining Reed as Republican cosponsors of H.R. 4695 were U.S. Reps. John Katko of New York; Leonard Lance of New Jersey; Glenn ‘GT’ Thompson, Ryan Costello, Charlie Dent and Brian Fitzpatrick of Pennsylvania; and Carlos Curbelo of Florida.
H.R. 4695 would establish the Patient and State Stability Fund, which would be administered by the secretary of the U.S. Department of Health and Human Services as directed by the Centers for Medicare and Medicaid Services (CMS) to allocate pre-determined funds to each state every year starting on Jan. 1, 2019 through Dec. 31, 2028 for a variety of related purposes.
For example, states could use allocated funding to help high-risk people who don’t have employer-offered health insurance coverage to access other coverage; provide incentives for certain entities to partner with the state on stabilizing individual premiums offered on the marketplace; or to help reduce out-of-pocket costs for individuals enrolled in state health insurance coverage, according to the bill’s text.
Before receiving a funding allocation, CMS would determine each state’s eligibility based on its submission of an application that describes how it would use the funds, among other information, according to the bill.
Additionally, H.R. 4695 would expedite Obamacare’s Section 1332 State Innovation Waiver process in certain instances; and the bill would require regulations be issued to implement health care choice compacts under the law that allow for health plans to be offered in more than one state, according to the text.
“These legislative fixes will provide immediate relief and help stabilize the individual market and prove that bipartisan problem solving is the best the way to move this country forward in 2018,” said Reed.
Although health care has been viewed for years as a fiercely partisan issue, efforts by the Problem Solvers Caucus prove that “working together to fight the gridlock is possible,” said caucus co-chairman Gottheimer last week.
“Democrats and Republicans can agree that we need a bipartisan plan to stabilize the health insurance marketplace and lower premiums for everyone,” Gottheimer said. “This bill will help small businesses and families in New Jersey and across the country by making permanent cost-sharing reductions to reduce out-of-pocket costs while protecting coverage for seniors and hard-working families.”
H.R. 4695 has been referred to both the House Energy and Commerce Committee and the House Ways and Means Committee for consideration.