A collection of major insurer, doctor and hospital groups and the U.S. Chamber of Commerce are pleading with Congress to keep paying Obamacare insurer subsidies, after a report said that President Trump wants to end the payments.
The letter to Senate leadership released Friday comes a few hours after a Politico report that Trump wants to end the insurer payments, which the groups say would cause turmoil on the individual market.
"There is now clear evidence that this uncertainty is undermining the individual insurance market for 2018 and stands to negatively impact millions of people," the letter spearheaded by America's Health Insurance Plans said.
The American Medical Association, American Hospital Association and BlueCross BlueShield Association, which is a collection of BlueCross plans, are among the groups that signed it.
The groups want Congress to take steps now to continue cost-sharing reduction payments to insurers to subsidize them for lowering deductibles and co-pays for low-income Obamacare customers.
Insurers have been saying for months that without the payments they would be forced to raise prices or leave the individual market, which houses Obamacare's exchanges and is used by people who don't have insurance through work.
The letter highlighted that a Senate working group is debating a bill to offer short-term stability to the individual market. But they say time is running out.
Insurers have to file proposed rates by June 21 for the 38 states that use healthcare.gov to sign up for Obamacare.
"Health plans have only a few more weeks to decide whether and how to participate in this market," the letter said. "In several states, the deadline to file products and initial rates has already passed."
About four states have publicly released rates: Oregon, Virginia, Vermont and Maryland. Almost all plans have proposed double-digit rate increases, with some hikes as much as 50 percent.