Wyden Statement on Final Notice of Benefit and Payment Parameters

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today issued a statement after the Centers for Medicare & Medicaid Services (CMS) issued the final Notice of Benefit and Payment Parameters, the rules governing health insurance in the individual market:

“Instead of taking steps to prevent big premium increases this fall, the Trump Administration is watering down your health care and making it harder to get coverage,” Wyden said. “Projections already showed double digit premiums increases this year due to the Trump Administration’s attacks on families’ health care, and today’s new rules pour gasoline on the fire.”

The rule comes as CBO releases their updated baseline report where it estimates average premiums in the individual market will increase for some by 34 percent this year and will continue to rise in later years. Individual market premium increases are largely a result of the Trump Administration’s numerous steps to sabotage access to quality health care that families now expect after the passage of the Affordable Care Act.

CBO’s estimates only take into account some of the harmful changes Republicans’ have made, such as the repeal of the individual mandate. Other significant actions such as the short-term plan rule that would bring back junk insurance are not taken into account despite the sizable impact these changes are expected to have on insurer premium rate setting.

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