ARPA’s $7M funding helps lower Montanans’ health insurance costs
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News from the office of Senator Tester
BIG SANDY — Following his continued push for the Centers for Medicare & Medicaid Services (CMS) to support Montana reinsurance programs and lower the cost of health insurance for Montanans, U.S. Senator Jon Tester today announced $7,129,995 in additional American Rescue Plan Act funding to reimburse health insurance exchange insurers for certain high-cost claims that would otherwise be paid by consumers and the federal government.
Tester was the only member of Montana’s Congressional delegation to vote in favor of the funding.
“This pandemic is highlighting what we already knew: quality health care is too expensive and hits Montanans pocketbooks hard,” Tester said. “That is why I fought to secure this funding to help lower Montanans’ health insurance costs. Rising health care costs hurt working families and small businesses across our state so we need to continue to work together to provide access to affordable health care.”
States that have section 1332 state-based reinsurance waivers, including Montana, will receive funding to improve access to affordable, comprehensive health insurance coverage. The $7.1 million for Montana’s reinsurance program will reimburse health insurance exchange insurers for certain high-cost claims in the individual health insurance market using a mix of federal pass-through funding and association member assessments.
