HCFA Testifies In Support Of Lower "Cost Growth Benchmark" - March 8, 2017
HCFA testified before the Health Policy Commission in support of lowering the state's "Cost Growth Benchmark." The hearing was held on March 8, 2017. The benchmark sets a goal for the limit of overall growth in medical spending in the state. Entities such as insurers or hospitals that exceed the benchmark may be subject to specific sanctions under the state's health care cost containment law (summary).
In our testimony, HCFA supported allowing the benchmark - the goal for the maximum allowable increase in health costs - to go down to 3.1%, from its current 3.6% annual rate.
"We think it's important to signal to the health care community on all sides that our job of reducing health care cost growth has to be strengthened and intensified, and therefore we support allowing the benchmark to go down," Health Care For All policy director Brian Rosman said.
HCFA also urged the Commission to support concrete steps to reduce health care cost growth, such as:
- renewal of the Prevention and Wellness Trust Fund
- integration of oral health
- supporting Value-Based Insurance Design
- bring transparency to pharmaceutical prices
Read the full testimony: