Next week, the U.S Senate Committee on Health, Education, Labor and Pension will begin hears on health care. During these hearings, testimonies will be made from directors and commissioners from several states. The states include Tennessee, Washington, Pennsylvania, Oklahoma, and Alaska. They are all hoping to find a way to find a solution that will help to stabilize premiums in individual insurance markets.

The cost of premiums has become a large issue among American in recent years as Insurance premiums have increased by almost 80 percent. It is an issue that has deeply affected the state of Alaska in particular. The Director of the Alaska Division of Insurance Lori Wing-Heier will be one of the presenters at the upcoming hearings. She has made note that Alaska is one of the most subsidized healthcare markets, bringing in nearly $10 million per year from the government. Therefore, it is essential that there is a balance between premiums and rates.

The first hearing will be held on September 6 and the topic of focus will be on “Stabilizing Premiums and Helping Individuals in the Individual Insurance Market for 2018: Insurance Commissioners”.

As for now, you should stay tuned for the results of each of the hearings during the next couple of weeks. Contact Cosmo Insurance Agency, an independent health insurance agency in NJ, to find out more information about how you can still find an individual plan that is within your budget. We are partnered with over 16 reputable carriers that will provide you with a personalized plan. 

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