Tuesday, January 31, 2023

Insurance Commissioner Says Thousands of Mississippians Could Lose Health Coverage Next Year

U.S Senator Roger Wicker and Mississippi Insurance Commissioner Mike Chaney

Thousands of Mississippians could be forced to drop their health insurance if President Donald Trump’s plan to block Affordable Care Act subsidies goes into effect, according to Insurance Commissioner Mike Chaney.
Getting rid of the federal cost-sharing subsidies will result in dramatically higher premiums for some Mississippians, Chaney told the Clarion-Ledger. Anticipating Trump’s decision, Chaney two weeks ago approved health insurers’ request for a 47 percent premium increase for Health Care Marketplace plans.
According to the Clarion-Ledger, Chaney estimates that Mississippians who earn more than 250 percent of the poverty level—$30,150 for individuals and $61,500 for a family of four—would take the hardest hit if insurance premiums skyrocket as predicted. That would come to roughly 5,000 people who currently get insurance through the Health Care Marketplace.
Chaney said he hoped Congress would “listen when they hear what the impact will be.”
As CNN reports, two U.S. senators—Lamar Alexander and Patty Murray—have proposed a bipartisan plan that would restore the subsidies for two years while giving individual states more flexibility to customize ACA rules. But it remains to be seen whether the plan will even make it to the Senate floor for consideration.

Rick Hynum is editor-in-chief of HottyToddy.com. He can be reached at rick.hynum@hottytoddy.com.