A bill approved by the House Insurance Committee would create a state-based health insurance exchange in Pennsylvania.
While the state currently shares oversight of its health insurance exchange with the federal government, House Majority Leader Bryan Cutler says transitioning to a state-based exchange would be cheaper.
“Currently our insurance companies in the commonwealth are paying between $85-90 million in premium taxes to the federal government to operate the federal health exchange. Based on testimony, the department of insurance tells us we can run a state-based exchange for approximately $30 million,” Cutler said.
The legislation also would also allow the state to apply for a federal waiver to create a re-insurance program, which would lower premiums for those in the individual insurance market by 5 to 10 percent.
Cutler says 12 other states already have state-based health insurance exchanges and eight are saving money.
The post Bill Would Create State-Based Health Exchange appeared first on ButlerRadio.com – Butler, PA.
