WASHINGTON – Minnesota's efforts to drive down premiums for coverage sold on the state health insurance exchange could come undone by the end of the month unless the federal government acts.
After seven years of partisan wrangling over Obamacare, U.S. senators worked Tuesday to hammer out a bipartisan fix they hope could stabilize state insurance exchanges before millions of Americans are hit with rate hikes. The CEO of MNsure, Minnesota's exchange, told a Senate panel Tuesday that the state may have mere days left to avoid the kind of hikes that state lawmakers took expensive steps to avoid earlier this year.
Even as federal lawmakers consider short-term repairs to the Affordable Care Act, a growing number of Democrats including Sen. Al Franken are looking more long-term. The Minnesota Democrat announced Tuesday that he has signed on as a cosponsor of Vermont Sen. Bernie Sanders' "Medicare for All" single-payer health care plan, calling health care "a right for all Americans."
In the short term, Franken — a member of the Senate Health, Education, Labor and Pensions Committee that's trying to address the most urgent problems — said the Senate needs to "pursue bipartisan policies that improve our current health care system for all Americans."
A fix can't come fast enough for Minnesota officials.
"Premiums remain too high and provider networks too narrow for many Minnesota families," MNsure CEO Allison O'Toole told the Senate panel. "Action at the federal level is needed to add certainty, stability and strength to individual markets across the country."
The committee's leaders, Republican Sen. Lamar Alexander of Tennessee and Democratic Sen. Patty Murray of Washington, hope to come up with a stabilization plan before insurance companies lock in their 2018 rate plans at the end of September.
"What can Congress and the president do, between now and the end of the month, to help limit premium increases in 2018 and lower premiums after that?" Alexander said as the committee began the third of four September hearings on a stabilization plan.