Interstate Insurance Compacts
States may want to expand insurance options for their residents, but they will also want to consider the regulatory environment in partner states when making a decision about whether to participate in a Health Care Choice Compact.
*Milestone details:
*Full name: Decide whether to participate in a Health Care Choice Compact to facilitate interstate sale of health insurance products.
*Relevance to the ACA:
The ACA gives states the option to enter into compacts with other states to offer interstate insurance plans, subject to approval of the Secretary of HHS. Relevant sections include:
§1333 - Creates the option for Health Care Choice Compacts between two or more states. States must pass a law allowing their participation in a compact and the Secretary of HHS must approve the compact. Plans are subject to market conduct rules, network adequacy requirements, unfair trade standards, and consumer protection requirements of the state where the purchaser of the insurance policy resides. Plans are subject to all other laws and regulations in the state where the plan is issued.
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District of Columbia
Researchers at Georgetown's Center on Health Insurance Reforms looked at six state laws relating to cross-state sales or interstate compacts. We found that these laws have not met their stated goals of providing consumers with new, more affordable coverage options. In fact, not one insurer has entered a new market or offered a new product because of these laws. At the same time, these laws pose risks to consumers because they undermine state oversight and ability to respond to consumer complaints.
Missouri
The Missouri General Assembly passed HB 423, allowing the state to enter into the Health Care Compact.
District of Columbia
Hi Amy, Thanks for posting this. You are the first state that has told us it has passed this legislation. Looks like the Governor has not signed yet. Will you please write a comment if/when the Governor signs and we'll award you credit for making this decision and "completing" this milestone?
Best, Sonya
District of Columbia
This enacted legislation authorizes a study committee on establishing a state Exchange and requires recommendations on issues like insurance sales across state lines. Access the legislation here: http://www.statereforum.org/sites/default/files/hb0050.pdf
District of Columbia
This report outlines the major decisions facing New Mexico as the state works to implement the many provisions of the ACA.
Access the report here:
http://www.statereforum.org/sites/default/files/nm_federal_hcr_strategic...