Health insurers want to see how Congress intends to replace Obamacare before they commit to offering policies for 2018, a new survey has found.
One of the biggest issues is the individual mandate, which requires nearly all Americans to buy insurance or pay a penalty. If Republican lawmakers repeal the mandate without a replacement plan, insurers said they’d “seriously consider” withdrawing from the market next year, the Urban Institute report said. They see “significant” risks in remaining while the details of a replacement bill are in doubt.
The effort to repeal major portions of Obamacare, including the mandate, are already underway in Congress, but Republicans remain divided over how to replace it. Senate Majority Leader Mitch McConnell said Thursday that lawmakers are looking at including some replacement measures in the bill.
Meanwhile, the White House also has the mandate in its scope. President Trump issued an executive order last Friday aimed at minimizing the health reform law’s financial burden on Americans, states and others. The Health secretary could try to weaken the mandate by broadening the criteria for getting a hardship exemption.
Click here to see the full story on CNN Money