A law professor told members of Congress this week that the new Patient Protection and Affordable Care Act risk corridor program could end up turning a profit for the federal government.
Timothy Stoltzfus Jost, a Washington and Lee University faculty member who supports PPACA, appeared at a hearing Wednesday organized by the House Oversight and Government Reform Committee to defend the temporary risk corridor program and the other PPACA "3 R's" programs — the temporary PPACA reinsurance program and a permanent PPACA risk adjustment program.
The risk corridor program would take money from all individual and small-group plans, on and off the public exchanges, with claims at least 3 percent lower than the projected amounts and pay the money to plans with total claims at least 3 percent higher than the projected amounts. PPACA requires the federal government to make up for any funding shortfalls in that program for three years.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
