With a schedule change in Washington, I will be using October as a district work period in Arizona. I look forward to staying in the Grand Canyon state to meet with constituent groups and discuss how this Congress has made great changes for Arizonans. If you would like to schedule a meeting with me, please email Schweikert.Scheduling@Mail.House.Gov
I wrote an op-ed article with Congressman Webster (FL-11) to amend the Public Health Service Act to establish a health insurance Federal Invisible Risk Sharing Program.
According to Kaiser, 10% of the sickest individuals account for nearly two thirds of population health spending (graph below). This means that healthier individuals are covering the costs of a small number of high cost patients. This is especially true in the individual ACA marketplace because there is a smaller insurance pool for these costs to be allocated, as opposed to the large group or private market where costs can be disbursed over a larger number of people – the cost exposure to any one individual is limited.
Graph from Kaiser showing the percentage of sickest individuals and health spending.
The Federal Invisible Risk Sharing Program gives insurers the ability to recoup the extraordinary costs of their highest cost patients without resulting in higher costs for healthier individuals participating in the marketplace. The Program seeks to ensure individuals have access to affordable health insurance at the lowest possible rates, whether they have a pre-existing condition or not.
H.R. 7003 offers predictability to the individual marketplace for individuals and insurers and, over time, gives states the ability to manage the program based on their own needs. This is a proven model to provide affordability and stability to the health insurance marketplace.
Last week, I introduced two blockchain related bills that will increase Congress' support and knowledge for implementing blockchain technology.
H.Res. 1108 seeks to increase research and show Congress’s support for an “innovation friendly” regulatory approach of blockchain technology. We hope that this resolution will increase the support and growth of the technology’s implementation in the public and private sector, to improve overall privacy, transparency, and efficiency.
H.R. 7002 will amend the E-SIGN Act to confirm the applicability of blockchain to electronic records, electronic signatures, and smart contracts. We believe that this bill will provide clarity to the application of existing law during a time when several states have already enacted conflicting legislation regarding the validity of electronic signatures, records, and smart contracts using blockchain. This clarification will enable the technology to grow and reach its potential.
Both H.Res. 1108 and H.R. 7002 include the NIST standard for the definition for blockchain. We look forward to increasing awareness about the potential and validity of blockchain technology.
Speaking at a Congressional Blockchain Caucus briefing, as I am one of the Co-Chairs of the Caucus.
I am greatly honored to serve you in Congress,
Representative David Schweikert, Arizona's 6th Congressional District