Senate Committee Hears Testimony Regarding Federal ACA Compliance

Last Wednesday, the Senate Banking and Insurance Committee heard from David Black, Director of the Department of Insurance, regarding the Affordable Care Act’s impact on insurance regulations. Their presentation focused on temporary high risk pools, key insurance market reforms, changes to premium rate regulation, and health insurance exchanges. Under the law, the federal government will pay 100 percent for the expanded care in 2014 and 2015. The state will kick in 5 percent in 2016 and 2017. After that, the state will owe 10 percent to the federal government's 90 percent for all who signed up for Medicaid as part of the expansion. The health care law is projected to cost South Carolina between $1 billion and $5 billion over the next decade.
In addition to other testimony heard, Deputy Attorney General Bryan Stirling updated the Committee on the status of pending law suit against the ACA. Governor Haley, Attorney General Alan Wilson and most of the congressional delegation oppose the federal law and are challenging its constitutional authority. The Governor is also seeking to opt out of the ACA in order for the state to be able to find its own solutions.
Access handouts and presentations or watch a recording of the meeting.

03-29-2011 12:00 (EDT)