An additional 4.2 million Americans would be able to obtain individual health plans, and their premiums would be about 33 percent lower on average, under a new Blue Cross Blue Shield Association proposal.
The BCBS Association, which represents 36 independent Blue plans nationwide, outlined steps to lower premiums for Americans who purchase health insurance through the individual market. The association plans to do this through enhanced tax credits, under which ideally no individual market members would spend more than 12 percent of their income on health insurance benefits.
Additionally, BCBS Association proposed establishing a federal funding system to support care costs for members with significant medical needs so more people would qualify for coverage.
“We believe everyone should have access to coverage and care, no matter who you are or where you live,” Scott Serota, president and CEO of BCBS Association, said in a news release. “The individual market is a critical source of coverage for people from all walks of life, and it should be strengthened to make coverage more affordable while protecting those with pre-existing conditions.”
Date: March 5, 2019