Lombardo moves forward with changes to Nevada’s Public Option
LAS VEGAS, Nev. (KOLO) - On Wednesday, Nevada Governor Joe Lombardo announced he is moving forward with changes to Nevada’s Public Option.
Lombardo’s plan is to bring the Silver State into a Market Stabilization Program, which he says will bring greater stability to the state’s individual market for health insurance by reinvesting 1332 waiver funds back into the marketplace and provider system.
He had announced plans to do so during his state of the state address and hopes these changes address what he says are existing issues within the state’s healthcare system and the public option plan.
The state hopes to achieve this feat by utilizing the federal funds made available through the 1332 waiver application to:
- Finance a reinsurance program for all health insurers operating in the individual market
- Establish a new quality incentive payment program to reward high-performing insurers that offer public option plans and meet certain metrics or quality indicators
- Fund new initiatives designed to increase the state’s health care workforce capacity to improve access and lower the cost of health care by addressing the imbalance between provider supply and demand
Of his plan, Lombardo said:
“My plan to use these new federal funds to support our state’s healthcare infrastructure and workforce will help offset the instability created by the public option,” said Governor Joe Lombardo. “Reinsurance is a proven method of protecting consumers and will help Nevadans avoid the higher costs of insurance they would face through the cost-shifts driven by the public option.”
Copyright 2023 KOLO. All rights reserved.