Compared to premiums without the individual mandate & CSR payments, Alexander-Murray & Collins-Nelson would actually reduce premiums by 20% and provide coverage to an additional 700,0000 people.
Washington, D.C. - Today, health care experts at Oliver Wyman released an analysis that showed that the passage of the Alexander-Murray Bipartisan Health Care Stabilization Act and the Collins-Nelson Lower Premiums Through Reinsurance Act will more than offset the impact of repealing the individual mandate.
From the experts at Oliver Wyman:
“We estimate that with $5 billion in funding, states collectively could provide more than $15 billion in reinsurance coverage, and that this, combined with the funding of CSRs, would result in another 700,000 people with coverage in the individual market and premiums that were more than 20% lower than if the individual mandate were repealed and the package of provisions was not implemented.”
U.S. Senator Susan Collins (R-ME) received a commitment from Majority Leader Mitch McConnell (R-KY) in the Congressional Record that both of these bills will be passed before the end of the year.