Rhode Island Gov. Dan McKee, a Democrat, issued an executive order March 12 to address healthcare affordability in the wake of losing ACA enhanced subsidies.
He plans to model other states’ approaches to maximizing federal financial assistance and lowering premiums for enrollees using the state’s ACA marketplace, HealthSource RI. A news release said the governor aims to secure an extra $12 million in federal tax credits to lower health insurance premiums for customers, particularly those earning between 200% and 400% of the federal poverty level.
“Silver loading” is a core tenet of Mr. McKee’s initiative, whereby insurers with individual plans available on the marketplace will need to apply a methodology, established by the Office of the Health Insurance Commissioner, for pricing cost-sharing reductions into silver plan rates.
The office will also roll out resources to inform consumers of federal tax credit eligibility, coverage costs and net premiums. By the end of October, the state will offer a dashboard to transparently display healthcare costs.
The state will evaluate site-neutral reimbursement policies and facility fees, as well. State coverage mandates will also be reviewed.
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