October 5, 2017 proponents of the veto referendum submitted enough valid signatures, over 59,789, to have this measure on the Ballot.
Ballot Summary: This measure asks voters to approve or reject five parts of HB 2391 enacted by the 2017 Oregon Legislature to address certain health care funding issues. The funding is for low-income adults, children, families and individuals with disabilities.
It will stabilize premiums charged by insurance companies for health insurance purchased by individuals and families. HB 2391 provides the funding through a 1.5 percent assessment on premiums of health insurance companies, Public Employee’s Benefit Board and managed care organizations for a two year period, and an additional 0.7 percent assessment on the net revenue of some hospitals over approximately 2 years.
This measure asks voters to approve or reject the majority of these assessments.
A YES vote provides funds that are currently budgeted to pay for health care for low income individual. It specifies that insurance companies may not increase rates on health insurance premiums by more than 1.5 percent as a result of the assessment.
A NO vote underfunds budgeted costs for providing health care to low-income individuals and families and individuals with disabilities and for stabilizing premiums charged by insurance companies, Public Employees Benefit Board and managed care organizations.
The proponents of the veto referendum ignore the resulting serious impacts if funding is withdrawn. Potentially a No vote will remove 375,000 adults from the Oregon Health Plan, reduce benefits for one million Oregonians, reduce health care jobs and reimbursements to providers and make private insurance more expensive.
The health care insurance companies, managed care organizations, and hospitals are in favor of this assessment.