Montana is moving ahead with the idea of creating a reinsurance program for the state’s health insurance market. The program may reduce premiums between 10 and 20 percent, said Governor Steve Bullock and Department of Administration Director John Lewis.
A bipartisan workgroup will evaluate new ways to address high insurance prices for Montana residents.
The state estimates that Montanans enrolled in individual health plans will spend roughly $1300 more a year on insurance costs due to federal efforts to dismantle the Affordable Care Act. Prices are on the rise after the repeal of the individual mandate and uncertainty around payments to payers which were intended to stabilize the marketplace.