Anthem, one of the nation's largest health insurers, expressed its support for the Senate's health care bill, saying it will stabilize the market, The Hill reported.
The Better Care Reconciliation Act of 2017, the Senate's replacement to Obamacare, will provide funds to rein in premiums, include a reform of Medicaid, and eliminate Obamacare's taxes and mandates.
"We believe the Senate discussion draft will markedly improve the stability of the individual market and moderate premium increases," the company said.
Anthem has recently dropped out of three states—Wisconsin, Ohio, and Indiana—and said that the market has been volatile, making it difficult to price Obamacare health plans. In addition, they cited concern with a shrinking and deteriorating individual market.
"We are committed to working with our government partners now and into the future to navigate the challenges the current bill proposes to the Medicaid program knowing how important it is to achieve the necessary funding and access to health care services and supports are for the individuals and families that rely on them," the company said.
BlueCross BlueShield, which includes Anthem, also supports the bill saying it will "go a long way in helping to cover the costs of caring for those with significant medical needs."