5-13-2019
OLYMPIA, Wash. (AP) — Washington is set to become the first state to enter the private health insurance market with public option plans.
A set of public plans, referred to as Cascade Care, will cover standard services and is expected by some to be up to 10% cheaper than comparable private insurance.
The savings are expected in part from a cap on rates paid to providers.
The public plans will be available to all state residents regardless of income by 2021.
Governor Jay Inslee is scheduled to sign the measure into law Monday.
The measure directs state health care authorities to hire one or more private insurance companies, then determine the broad outlines of the public plans, while private companies will handle day-to-day administration, including enrolling patients and paying out claims.