McKnight: Christie Horizon Proposal Warrants Close Scrutiny

Assemblywoman Angela V. McKnight (D-Hudson) issued the following statement Friday regarding Gov. Chris Christie’s plan to raid Horizon’s reserve funds:

“Particularly given the on-going dispute over health care at the federal level, Gov. Christie is misguided in his effort to go after Horizon.

“While a track record of nearly a dozen credit downgrades on his watch makes clear the governor’s short-sighted disregard for the ratings agencies, the Standard and Poor’s warning regarding his proposal should concern everyone in New Jersey. If S&P’s prediction that the governor’s plan will damage Horizon’s credit is correct, the resulting increase in the cost of coverage will hurt policyholders, many of whom already struggle to make ends meet.

“The notion that the health insurance industry ought to be more transparent and should be held accountable certainly is worth consideration, as is finding a funding source for drug treatment. A draft bill that proposes twisting Horizon’s arm and meeting these obligations on the backs of hard-working low-income and middle-class New Jersey residents simply is not the right way to go about it.”