INSURERS THREATEN HIGHER PREMIUMS, EXCHANGE EXITS IF OBAMACARE PAYMENTS ARE NOT MADE

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Free Beacon

Health insurers in California are threatening higher premiums and exchange exits if Obamacare's cost-sharing reduction payments are not made.
The Affordable Care Act created cost-sharing subsidies to rein in the cost of out-of-pocket expenses for lower-income individuals by reimbursing insurers. These payments are now in limbo after two House committees called the payments unconstitutional and filed a lawsuit against them.
The House Ways and Means and Energy and Commerce committees said that the Obama administration was funding the program without a permanent appropriation from Congress, which made them unconstitutional.
Now insurers in California are saying that if the federal government fails to make these payments, they will be forced to increase premiums or exit the Obamacare exchanges completely.
Covered California, the state's official health care marketplace, said that premiums could rise by as much as 49 percent next year if these payments were not made or the Affordable Care Act's individual shared responsibility payment is not enforced. The increase in premiums would also lead to an increase in federal government spending, raising costs by $4 billion in 2018.

[Geee]

ObamaCare insurer ousts CEO who criticized GOP repeal plan

 

Molina Healthcare's CEO has been ousted after two decades in the role following "disappointing financial performance," the company's board announced Tuesday. 
Dr. Mario Molina will be replaced by Joseph White, the company's chief accounting officer, until the board finds a permanent CEO. 
Molina has been a vocal critic of the GOP's ObamaCare repeal and replace process. He threatened to leave the ObamaCare exchanges if key insurer payments weren't funded.