McPeak pushes continued fed subsidies to U.S. senators

Tennessee Insurance Commissioner Julie Mix McPeak urged Congress on Wednesday to continue federal cost-sharing payments to insurers, arguing the subsidies are the key to strengthening insurance markets and potentially bringing down costs next year.

Further from Michael  Collins’ report:

Appearing before a Senate panel, McPeak insisted the payments should not be seen as an “insurer bailout.”

To the contrary, she said, cost-sharing funding “ensures that some of our most vulnerable consumers receive assistance for copays and deductibles that are required to be paid under federal law.”

McPeak’s testimony before the Senate Health, Education, Labor and Pensions Committee came during the first of four hearings focused on strengthening the individual health insurance market after the collapse of the GOP’s effort to repeal the Affordable Care Act, or Obamacare.

Sen. Lamar Alexander, the Tennessee Republican who chairs the panel, said he hopes lawmakers will reach a consensus by the end of next week and approve bipartisan legislation by the end of the month to stabilize the individual health insurance market and guarantee that affordable coverage is available for those who want it.

Note: Gov. Bill Haslam speaks to the panel today.

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