December 10, 2012
NJBIA Applauds
Christie's Veto of the Health Insurance Exchange Bill
Governor Chris Christie was right to veto
legislation creating a state-based health insurance exchange
because it does not do enough to address the high cost of
health insurance, New Jersey Business & Industry Association
Vice President Christine Stearns recently said.
Christie vetoed
S-2135 (Gill, Vitale, Conaway,
Singleton).
“Governor Christie
is absolutely right to veto this
bill,” Stearns said. “The
problem with health insurance in New
Jersey is not one of access, but one
of affordability. In
fact, the state already administers
insurance markets for individuals
and small businesses, yet many still
struggle with the high premiums.
“Committing to a
health insurance market like this
one would have subjected employers
to uncertain costs, but offered
little hope of making health
insurance more affordable,” Stearns
said. “The exchange in this
bill would have been expensive to
run and imposed taxes on insurance
plans, even if they were not sold in
the exchange.
“States like New
Jersey have some of the highest
health insurance costs in the
nation,” Stearns said.
“According to the Kaiser Family
Foundation, the average cost of a
family health insurance plan in the
northeast region is $17,099 a full
$1,354 higher than the national
average.
“NJBIA supports
the idea of creating a New
Jersey-based health insurance
exchange, but it has to be one with
minimal costs, and it has to be
designed to provide employers and
individuals the greatest freedom of
choice possible,” Stearns said.
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