The nation's policy makers are debating the best course of action for the ACA, leaving many payers unsure of how to proceed. Kaiser Health News reports this uncertainty may likely cause many payers to increase their rates to avoid major losses.
Here are six key notes:
1. New Mexico Health Connections CEO Martin Hickey said the payers may either increase consumers' premiums next year by 7 percent, or 40 percent. He referred to the current healthcare landscape as "pretty massive confusion." He told KHN, "The more uncertainty they create, the higher the rates" for 2018.
2. Payers may err on the side of caution as they weigh the possibility of the government eliminating coverage for millions. If payers increase their rates, consumers will likely pay more for healthcare.
3. Many insurance companies canceled their coverage options or increased their rates by double digits during the most recent ACA enrollment period. Throughout the nation, some states are requiring payers to submit preliminary 2018 rates within the next two months.
4. Leading payers are contemplating withdrawing from ACA exchanges as policy makers go back and forth. Bloomfield, Conn.-based Cigna Chief Executive David Cordani said the company will conduct a full analysis to decide whether it will offer plans next year. Mr. Cordani said the exchanges were "unsustainable" in a call with analysts.
5. Meanwhile, some GOP leaders are voicing their frustration with the timeline of the ACA repeal. Speaker Paul Ryan (R-Wis.) had said he wants legislators to repeal and replace the health law by the end of March.
6. Fox News' Bill O'Reilly conducted an interview with President Donald Trump earlier this month. Mr. O'Reilly asked President Trump if the American people can expect a health plan rollout this year, to which, President Trump said, "I would like to say by the end of the year at least the rudiments but we should have something within the year and the following year."