Interstate Health Insurance Compacts versus PPACA Exchanges
Last year, the Wyoming Legislature granted the insurance commissioner the power to establish interstate health insurance compacts in Enrolled Act 61. This law “recognizes the need of individuals seeking medical and surgical health insurance coverage in this state to have the opportunity to choose among competitive medical and surgical insurance plans that are affordable and flexible.” Following this year’s Legislative Session, an interim committee has been assigned the task of responding to federal regulatory initiatives, including health insurance exchanges required under the Patient Protection and Affordable Care Act (ObamaCare).
What’s the difference between compacts and exchanges and how would they affect Wyoming?
In the second issue of the Liberty Brief, Regina Meena compares and contrasts health insurance compacts and PPACA health insurance exchanges. She illustrates how the compact model would maximize individual choice in health care and open the door to a better, broader market for Wyoming, while exchanges would invite more federal control, less individual choice, and more unbearable costs for health care.