Iowa’s health insurance commissioner is proposing that the federal government pay millions of dollars to help shore up its Obamacare exchange, which is facing the prospect of having few insurers participate next year.
Among Iowa’s request is $80 million from the federal government to help pay for a reinsurance program that helps compensate insurers for costly care. The state has one patient whose care costs $1 million a month, and includes many unhealthy, expensive customers on the exchange.
The plan, put forth by commissioner Doug Ommen, would need to be approved and funded by the federal government. According to the Des Moines Register, Ommen and insurers met with Centers for Medicare and Medicaid Services administrator Seema Verma last week to review the proposal.
“This is not a perfect plan,” Ommen told the Register “It’s a stopgap.”
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