NEW HEALTH INSURANCE PROGRAM WILL DRAMATICALLY LOWER RATES
HELENA, Mont. – State Auditor Matt Rosendale will testify for a bill to dramatically lower Montanans’ health insurance rates tomorrow. Reducing the cost of accessing health care has been Rosendale’s signature policy priority during his tenure as insurance commissioner.
Senate Bill 125 would create a Montana reinsurance program to reduce the cost of health insurance under Obamacare. Reinsurance provides a financial backstop for insurance companies against extremely high-cost insurance claims such as traumatic accidents or expensive preexisting conditions.
A 2018 report by the Montana Healthcare Foundation estimated that a Montana reinsurance program would lower health insurance premiums by between 10 and 20 percent. Several other states have already created similar programs and seen double-digit reductions in health insurance costs.
“The extreme cost of health insurance is crushing Montana families, and reinsurance is proven to dramatically lower premiums,” Rosendale said. “With Senate Bill 125, we can continue to protect Montanans with preexisting conditions and also make health insurance more affordable and accessible in Big Sky Country. It is past time that we get this done for the people of Montana.”
Rosendale has pushed for a Montana reinsurance program since he was first elected to the State Auditor’s office. Reinsurance legislation was vetoed twice in 2017, once during the regular legislative session and once during that year’s special session.
SB 125 passed every vote in the Senate unanimously with the State Auditor’s support. Rosendale is personally testifying at Thursday’s House hearing to encourage lawmakers to get this vitally important bill across the finish line before the end of the legislative session.
The bill will be heard in the House Human Services Committee in Room 152 at 3:00PM on April 4th.