IRVINE, Calif. & WASHINGTON--(EON: Enhanced Online News)--Adam DeVone, Founder and Chairman of Orange County-based employee benefits firm Benefits Exchange Alliance (BXA), met with several top lawmakers last week to discuss the ongoing challenges with health care reform. In a one-on-one meeting with House Speaker Paul Ryan (R., Wis.), Mr. DeVone communicated what he believed to be some of the critical issues that have plagued both the original Affordable Care Act, as well as the recently introduced GOP health plan. Additionally, Mr. DeVone shared his insight with Vice President Michael Pence during his visit in order to illustrate some of his firsthand experiences working with both small and large businesses across the nation. The meetings come at a critical time as industry groups and lawmakers have begun voicing concerns about the implications of overhauling Obamacare.
“There is a fundamental misunderstanding between policymakers and insurance carriers”
A 30-year industry veteran and expert on health care solutions, Mr. DeVone was invited to Washington D.C. along with several other industry leaders to help bridge the gap between policymakers and health insurance providers. “There is a fundamental misunderstanding between policymakers and insurance carriers,” said Mr. DeVone. “Under Obamacare, carriers were told to assume a blind risk pool of individuals, causing billions of dollars in losses. Carriers were left with two choices – raise premiums or drop out.” One of the key recommendations that Mr. DeVone made to House Speaker Ryan was the promotion of individual choice through a new type of delivery platform he coined as a Local Vertical Exchange. “Employers don’t want to be in the insurance business – they want to set up a defined contribution, and let their employees choose the plan that fits them best.” Under this Local Vertical Exchange system, carriers would be able to deliver insurance direct to consumers in a local marketplace. “Consumers should be able to purchase an affordable health insurance plan on a smartphone,” said Mr. DeVone. He additionally added, “The burden of ACA reporting has stifled business and needs to be eliminated immediately.” He is not the only one calling for a more pragmatic approach to health care reform. In a letter sent to House members on Tuesday, the U.S. Chamber of Commerce stated that it was critical to take steps that “restore choice, flexibility and innovation to the nation’s healthcare market.”