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ST THOMAS, USVI -- The US Virgin Islands healthcare reform implementation task force is considering the findings of an analysis of the territory’s private insurance market as it prepares to make a recommendation regarding the viability of a health insurance exchange for the USVI.

Task force members received an extensive overview of the territory’s insurance market and likely issues that could affect the implementation of a health insurance exchange at its regular meeting held recently at Government House on St Thomas.

The study of the private insurance market is the third layer of data that the task force will evaluate in order to provide Governor John deJongh with information needed to decide whether residents will benefit most from the implementation of a health insurance exchange or from Medicaid expansion.

Value Advisory Group conducted telephone surveys, focus groups and interviewed key stakeholders in its study of the territory’s existing insurance market. The group subcontracted with Milliman, one of the world’s largest independent actuarial and consulting firms, to conduct the actuarial analysis portion of the study, which updates the VI Health Insurance Survey conducted by the Bureau of Economic Research in 2009.

At the meeting, representatives from Milliman discussed how insurance premium and cost sharing subsidies from the federal government could apply to the Virgin Islands market, as well as the financial impact of the various options available to the territory.

The US Virgin Islands must notify the US Department of Health and Human Services by October 1, 2013, whether it will be implementing an exchange, either by itself or in partnership with another state. The territory has received $24.9 million to implement an insurance exchange. Should it opt against an exchange and for Medicaid expansion, those funds will be rolled into the territory’s ongoing initiatives to expand its Medicaid program. These initiatives include developing a joint eligibility system program for nutrition assistance, cash assistance and Medicaid services.

Lt. Governor Gregory R. Francis, chairman of the task force, commended the task force members on their commitment to implement the provisions of the Affordable Care Act in the territory.

“We are in the homestretch as we work to implement critical aspects of healthcare reform,” he stated.

Taetia Phillips Dorsett, task force coordinator, added, “We are a leader among the territories in healthcare reform, and we should be proud of all that we have worked to accomplish.”

Since the Affordable Care Act was passed, the territory has established a consumer assistance program, to assist residents in resolving health insurance related problems and taken measures to expand the delivery of healthcare services in the territory.

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