CONCORD – Americans for Prosperity – New Hampshire (AFP-NH) today said a presentation by the state Insurance Department on health care rates shows the need for more competition among both health insurers and hospitals. The presentation on health care costs showed that both the insurance carrier and hospital marketplaces have a significant lack of competition. Notably, the individual and small group health insurance markets have an extreme lack of competition, while the large group market still has a high level of concentration, and that regionally, only the Manchester and Nashua areas don’t have an extreme lack of competition among hospitals.
“As we move toward the massive impact of ObamaCare that will further reduce competition in New Hampshire, today we learned that these same principles have already led our state to have the second highest health care costs in the nation.” said Greg Moore, AFP-NH State Director. “The presentation by the Insurance Department today shows exactly why ObamaCare will fail and why we need a free market solution to getting health care costs under control. The answer is more competition, and that means reducing regulations on health insurance and eliminating anti-competitive policies such as the archaic Certificate of Need board here in New Hampshire. The data could not be more clear – the reason for high health care costs is a lack of competition, and ObamaCare will only make this even worse.”
Additionally, the presentation showed that health providers say that the reason for high health care costs is the underfunding of Medicaid.
“At a time when New Hampshire hospitals say that low Medicaid rates are what is driving up the cost of health insurance for everyone, it makes no sense for the state to expand the Medicaid program under ObamaCare,” added Moore. “Medicaid expansion would move over 32,000 individuals from highly reimbursed private insurance to a Medicaid program that will force premiums higher for everyone. Driving up health insurance rates is just one more in a long list of reasons that Medicaid expansion is wrong for New Hampshire.”