Health insurers operating in Idaho wanting to sell policies through a health insurance exchange will have to establish their own private marketplaces to do so. Idaho lawmakers have decided not to pursue a state-run health insurance exchange, reported the Insurance Journal.
However, those same legislators are encouraging private insurers to create their own exchange. Idaho Rep. Bob Nonini introduced the concept, saying the state shouldn't pay for an exchange when it already has "highly accessible" healthcare, the Spokesman-Review reported. "If the insurance industry is so adamant about creating a health exchange in Idaho, then we encourage the industry to go ahead and do it on their own, with the enthusiastic but not monetary support of the state of Idaho," he said.
A privately run insurance exchange would be better suited to reducing healthcare costs because it wouldn't be burdened by government oversight, fees and taxes. Plus, Nonini said private insurers have ample cash in reserves to build their own exchange, according to the Idaho Reporter.
The measure now heads to a Senate committee for consideration.