Here are the details of the Democratic Mississippi Market-Based Health Insurance Coverage Plan, straight from Rep. David Baria (D - Bay St. Louis):
The Mississippi Market Based Health Insurance Coverage Plan is a compromise approach to achieving the same goal as expansion of the state’s Medicaid Program: providing health insurance to 300,000 working Mississippians at no new net costs to the state, saving money for Mississippi businesses, creating 9,000 new jobs, and making Mississippi a healthier state.
• Does not expand the Medicaid program: uses federal money instead to pay for premiums for health insurance plans that eligible working Mississippians would obtain through a state-based insurance exchange.
• Stimulates private sector opportunities & competition: uses the insurance exchange to create market-based health insurance choices and creates a pool of 300,000 Mississippians with the means to acquire commercial health insurance from state providers.
• Promotes individual responsibility & choice: all individuals who would have been eligible for insurance under the Medicaid expansion program will be eligible for this program. They will be responsible for working with the exchange to choose the best policy and keep up with the benefits.
• No net new costs to the state: In addition to the federal money that will cover 100% of the premium assistance for the first three years, the state will receive additional funds through increased insurance premium tax collections. The state’s regular Medicaid program will realize savings as some children who are covered by the CHIP program are moved to the plans obtained by their eligible parents. Administrative costs will also be reduced.
• Not an entitlement: the Market Based Health Insurance Coverage Plan will include a co-pay feature for all participants.