State Regulators Keep a Watchful Eye on Healthcare Companies’ Federal Tax Cut “Windfalls”

In December, President Trump signed the Republican tax reform bill into law, which among other things, eliminates the health insurance mandate penalty and reduces the corporate tax rate from 35 to 21 percent. The bill provides for $1.5 trillion in tax cuts over the next decade, mostly benefiting high-income earners and corporations, which Republicans hope will stimulate economic growth. Now, a few months into effect health care companies are taking stock of how the tax law benefits their bottom line and how to best invest the savings for future success. CHIR’s Emily Curran looks into how some state regulators are reacting. Continue reading

New Funding Opportunity Allows States to Bolster Consumer Protections

On February 5th, the Center for Consumer Information and Insurance Oversight (CCIIO) put out a Notice of Funding Opportunity. The federal agency anticipates that $8.1 million is available for state initiatives focused on insurers’ compliance with federal market reforms and consumer protections, giving states the opportunity to improve their oversight efforts. With the February 26th deadline for letters of intent just around the corner, CHIR’s Rachel Schwab provides an overview of the new grant program. Continue reading

States Take the Lead with Policies to Protect Residents with Chronic Conditions from High Out-of-Pocket Drug Costs

Lowering the cost of prescription medication has broad support over the political spectrum and there were many campaign promises to reduce prices. But to date, there’s been little federal action. States, however, are taking the lead with policies designed to protect consumers with chronic conditions from high out-of-pocket costs associated with expensive specialty drugs. A new CHIR brief details the findings from a 50-state survey of such policies and observations from supplementary interviews with state regulators, insurance company representatives and consumer advocates. Continue reading