Insurance Commissioner Visits - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Insurance Commissioner Visits

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North Dakota's insurance commissioner says he's not surprised to see Congress looking into a delay for new flood insurance rates.

Adam Hamm says he understands the politics of delaying the big policy rate increases, but he says at some point, Congress will have to face the facts that the flood insurance program is in trouble.

(Adam Hamm, ND Insurance Commissioner) "It's a temporary fix. It's in some ways kicking the can down the road because anybody that knows anything about that national flood insurance program will tell you it's under water. It's about 25 to 30 billion dollars in the hole and the reason it's got to that point is because they haven't had actuarially-sound flood insurance rates over the last 10, 15, 20 years."

Hamm was speaking to the local Kiwanis Club today and says the number one thing he hears about these days is Obamacare.

And he wants to avoid confusing people about the new health insurance plan.

He says the his agency certainly has concerns about how North Dakotans are being treated in trying to comply with the new law.

But he says it's important that people understand the insurance marketplace and the website to sign up for Obamacare - HealthCare.gov - are not state-run operations.

(Adam Hamm, ND Insurance Commissioner) "So what you'll see, like on the ND Insurance Department's website, we have all sorts of resources, frequently asked questions, the link to healthcare.gov, because we want folks to have the information but we don't want them confused into thinking that the state of North Dakota is either running this marketplace or can fix it."

Hamm says there are health insurance options for people outside of the Obamacare marketplace plans run by the federal government, and those do come under state regulation.

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