Could one State have no insurers next year?

The promise of Obamacare smells the worst in the state of Alaska, where three insurers have pulled out this year and will not offer coverage for January 1.    And Governor Walkers office states the remaining insurer “Premera Blue Cross Blue Shield, would have to pull out or pass costs on to customers if the state does not offer relief.”

According to an article on Fox News Politico, bipartisan legislation has been written to try and resolve the problem.  “The legislation establishes a state health insurance fund to stabilize rates for all Alaskans by subsidizing costs for high-cost customers, according to Politico, which earlier reported on the move. The costs would be covered by existing funds from a tax on insurance premiums that all insurance companies pay.

“Had this problem not been addressed this year, it would have cost the state more than $200 million next year,” Lori Wing-Heier, Division of Insurance director, said in a statement.”

Kudos to the State legislature for identifying and trying to fix a problem for the taxpayers, even if it throws money at trying to prop up the failed legislation.