HELENA- State Auditor Matt Rosendale announced August 15th that the Trump Administration has approved a bill he supported to lower health insurance rates in Montana, while continuing to protect people with preexisting conditions.
Health insurance companies have already proposed to lower rates on average in 2020, because of the reinsurance program.
The Centers for Medicare and Medicaid Services gave the Montana Reinsurance Program the go ahead to start lowering health insurance rates in the 2020 individual market.
Health insurance companies have already proposed between 8 and 14 percent lower rates and Rosendale expects those proposed rates to be finalized with his office soon.
“This is a big step in the right direction for many of the approximately 50,000 Montanans who get their health insurance through the individual market,” says Rosendale.
Reinsurance provides a financial backstop against high-stop insurance claims, allowing insurance companies to mitigate risk and decrease prices while continuing to provide insurance to Montanans with preexisting conditions and pricey medical conditions.