Feb 1, 2017

The health insurance industry's wish list for Obamacare repeal

Manuel Balce Ceneta/AP

Here are the main things Marilyn Tavenner, the head of America's Health Insurance Plans, will ask for when she testifies at the Senate HELP Committee hearing this morning on how to stabilize the Obamacare insurance market:

  • Insurers want the government to keep paying for the premium tax credits and the cost-sharing subsidies.
  • They also want full federal "reinsurance" payments to help insurers with a lot of expensive patients.
  • They want to encourage young adult signups by charging older customers five times as much as young adults, rather than Obamacare's 3 to 1 ratio.
  • Once the individual mandate is repealed, they want "continuous coverage" rules so people have to keep themselves insured if they want pre-existing condition coverage.
  • They want a temporary high-risk pool, funded by the federal government, to help sick people. (Obamacare had a similar program during its first few years.)

Why it matters: Congress needs health insurers to stay in the individual insurance marketplace to avoid a meltdown — one that could cause millions of people to lose their coverage after Obamacare is repealed.

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Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.