Rep. Costello Continues to Push Legislation to Lower Health Premiums
March 21, 2018
Urged House and Senate Leaders to Include Cost Sharing Reduction Payments and Reinsurance in Omnibus Bill
Rep. Costello answers questions at the press conference
Washington, D.C. – Rep. Ryan Costello (PA-06) today joined Energy and Commerce Chairman Greg Walden and Senators Lamar Alexander and Susan Collins to call for legislation that would lower health insurance premiums in the individual health insurance market to be included in the omnibus bill. Senators Lindsey Graham, Mike Rounds, Johnny Isakson, and Lisa Murkowski also spoke at the press conference on market stabilization.
Rep. Costello addressed the need to provide funding for Cost Sharing Reduction (CSRs) payments, which lower cost-sharing for many Americans who purchase low-deductible, high-quality health insurance. These payments were terminated by the Administration late last year, and Rep. Costello has been working with his colleagues on proposals to fund them through Congress. The legislation would also include reinsurance with a federal fallback, which brings certainty to the rate setting process and would help bring premium relief to Pennsylvanians and many across the country. Independent analysis of funding CSRs and reinsurance predicts markedly lower premiums in 2019, putting money back in the pockets of Americans struggling with soaring health insurance costs.
Rep. Costello called for these provisions to be included in the omnibus bill, which the House is expected to consider this week.
“Quick action is necessary to provide much needed relief to families, businesses, and individuals struggling from steadily rising health insurance costs. The necessary time to implement a thoughtful, carefully tailored program that best fits the needs of each state’s unique patient population is now. That’s why we have reinsurance with a federal fallback, giving states ample time to develop their own reinsurance programs and providing certainty to insurers so that they can deliver immediate premium relief to the American people,” Rep. Costello said at the press conference.
Click here to watch video of the press conference.