CMS Extends Filing Deadlines for ACA Exchange Plans
Amidst concerns about the stability of the Affordable Care Act exchanges, the U.S. Centers for Medicare & Medicaid Service has extended the deadline for filing qualified health plan (QHP) applications from 3 May to 21 June of this year. That would also be the new deadline for all issuers to submit rate table templates for single risk pool coverage that includes a QHP.
See Also: Physicians Urged to Reject ACA Repeal
Several other deadlines have been extended as well, such as the date by which states must send the CMS their final plan recommendations – moved from 15 Sept. to 27 Sept. However, the CMS slightly moved up the deadline for insurers to petition to change their service areas, as well as the deadline for insurers to petition to make changes in their QHP applications.
The revised deadlines mean health insurers have more time to decide whether they will offer plans on the exchanges in 2018. During a recent congressional hearing, experts testified that Congress would have to act to shore up the marketplaces by March in order to give insurers enough time to decide whether to participate.
The CMS's move comes as part of a new draft rule from the Trump administration that is intended to stabilise the ACA marketplaces. Similar proposals introduced by Congress also aim to address insurers’ concerns.
Some insurance industry leaders are pushing for the government to introduce certain policies they see as critical to stabilise the marketplaces, such as temporarily funding subsidies for low-income individuals. They are in the belief that, without adequate funding, it will be difficult to provide high-quality, affordable coverage and care to millions of Americans.
Already, Humana has said it will drop out of the exchanges next year, and insurers including Aetna, Anthem, Cigna and Molina have said they are still weighing their options.
Source: Fierce Healthcare
Image Credit: Pixabay
Published on : Sun, 26 Feb 2017
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