Cascade Care – Washington State’s Healthcare Goal
Washington state has goals when it comes to providing affordable healthcare for individuals and families. Senate Bill 5526, otherwise known as Cascade Care has been enacted by Washington State Legislature, slated to be available for Washingtonians to purchase at open enrollment on the state exchange January 1, 2021.
Cascade Care, will contract with private health insurance carriers to offer three levels of plans – bronze, silver and gold within the individual market on the sate exchange. To keep premium and deductible costs down, the plans will cap total provider and facility reimbursement rates at 160% of Medicare thresholds. Medicare reimbursement rates are generally lower than private insurance company reimbursement rates.
Any health carrier offering a qualified health plan on the exchange must also offer the state standardized plans. The challenge here is for providers (hospitals, doctors and facilities) to contract with the carriers, in other words they have to agree to contracted rates with these carriers.
The Washington health benefit exchange, in consultation with the health care authority and the insurance commissioner, must develop a plan to implement and fund premium subsidies for individuals whose modified adjusted gross incomes are less than 500% of the federal poverty level and who are purchasing individual market coverage on the exchange. The states goal is to limit individual healthcare premiums to no more than 10% of a households income.
ABC is committed to helping educate consumers. As we learn more, we are happy to share.
Sources: http://lawfilesext.leg.wa.gov/biennium/2019-20/Pdf/Bills/Senate%20Passed%20Legislature/5526-S.PL.pdf
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