Bullock approves Medicaid expansion, reinsurance program; vetoes prescription drug bill

Medicaid expansion took center stage Thursday at a Capitol bill-signing ceremony in which Gov. Steve Bullock signed nine health care bills, including one that made Montana the most recent state to establish a reinsurance program.

The program’s goal is to reduce premiums for Montanans obtaining health care through the Affordable Care Act’s marketplace by reimbursing insurance companies for especially high-cost claims. Bullock officially signed Senate Bill 125 last week, creating the state reinsurance association, which needed its board of directors to meet for the first time Wednesday to comply with the new law.

The governor signed 20 bills in all Thursday, though his lone veto drew the ire of state Commissioner of Securities and Insurance Matt Rosendale.

Sen. Albert Olszewski, R-Kalispell, carried Senate Bill 71 at Rosendale’s request. The bill sought to reduce prescription drug prices by regulating the contracts insurance companies can sign with pharmacy benefit managers, who are hired to negotiate prices with pharmacies and manufacturers.

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