The State of Maine Gets Obamacare Waiver
The ever-expanding list of waivers from various provisions of Obamacare just got larger.
“The federal government Tuesday granted Maine a waiver of a key provision in President Barack Obama’s health care overhaul, citing the likelihood that enforcement could destabilize the state’s market for individual health insurance.
The U.S. Health and Human Services department said in a letter it would waive the requirement that insurers spend 80 cents to 85 cents of every premium dollar on medical care and quality improvement. Instead, the letter said, the state could maintain its 65 percent standard for three years, with the caveat that HHS intends to review the figures after two years.
The decision makes Maine the first state to receive a waiver of the requirement. Similar requests are pending from Kentucky, Nevada and New Hampshire.”
One of the three major insurance companies in the state, MEGA Life and Health Insurance, has 37% of the state’s individual insurance market. If the state is required to meet the provision of PPACA stated above, MEGA Life and Health Insurance could withdraw altogether from the insurance market in the state of Maine. This could “destabilize the Maine individual market,” according to Steve Larsen, a HHS department deputy administrator.
“The Affordable Care Act allows states to petition to delay the federal standard until 2014 on how much money from premiums must go to medical care for the individual market. Administrative costs tend to be higher on those plans than on insurance plans provided through employers.” (emphasis mine)
What impact do these waivers have on the CBO scoring of revenues versus expenditures for PPACA? Could the financial impact of this trend be a means of approach for repealing this legislation that Republicans may not have considered?
The time to remove this albatross from the necks
of the American people is NOW!!!!