Harrisburg – Legislation creating an authority to operate a state-based health insurance exchange for Affordable Care Act individual market plans has been signed into law, according to Senator Mario Scavello (R-40).
The new law will also permit the Commonwealth to apply for a waiver to create a reinsurance program to drive down premium increases in the individual market. The federal government has provided greater flexibility and opportunities for states through such waivers.
The bill was approved June 24 by the Senate Baking and Insurance Committee, chaired by Scavello.
“I believe this will result in better insurance premiums for Pennsylvanians,” Scavello said. “The Commonwealth is taking the lead on this vital issue rather than depend on the federal government.”
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