No longer any reason for Healthsource RI

No longer any reason for Healthsource RI

Based on last week's U.S. Supreme Court decision upholding the Affordable Care Act (ACA), and with statewide health insurance premiums once again set to skyrocket, the nonpartisan R.I. Center for Freedom & Prosperity suggests that Fiscal Year 2016 should be the last year that Rhode Island taxpayers and ratepayers should be burdened with subsidizing HealthSource RI.

The Supreme Court ruling, which preserved federal insurance subsidies across the nation, effectively removed one of the major arguments of proponents seeking to keep the state exchange funded by Rhode Islanders. Further, based on a June 26 Providence Journal story that insurance rates could rise by as much as 18 percent next year, HealthSource RI has obviously failed in its promise to control rate increases.

Rhode Island is one of just 15 states that fully funds and operates its own insurance exchange. As the center has documented over recent years, the Ocean State does not have a large enough tax base or insurance base to justify the related high costs.

Mike Stenhouse

Cranston

Stenhouse is CEO of the R.I. Center for Freedom & Prosperity