National Reform Issues
Affordable Care Act - An Uncertainty
The Affordable Care Act (ACA) has made a number of significant changes to group and individual health plans since the law was enacted in 2010. Many of these key reforms became effective in 2014, with the remaining provisions set to be phased in by 2020 - or will they?
"Policy uncertainty has made it difficult for insurers to set premiums for their 2018 ACA marketplace plans, and uncertainly means states have less time for premium review. On May 22, 2017, the Trump administration has said it will ask for a 90-day delay in deciding whether to continue to fund the Affordable Care Act’s subsidies to defray health plan cost-sharing for low-income enrollees (known as cost-sharing reductions, or CSRs). This is just one example of the continued uncertainty over critical ACA policies that is making it difficult for insurers to submit their proposed plans and rates.
In most states, insurers will need to submit their health plans and proposed premium rates to insurance regulators by June 21, 2017, if they wish to sell on the ACA marketplaces in 2018. This early summer deadline gives state and federal regulators time to review insurers’ justifications for proposed rate increases, assess whether they are reasonable, and ensure that consumers are receiving the benefits and protections they have been promised under the law."
(Credit: Sabrina Corlette and Kevin Lucia of the Commonwealth Fund, 5/22/17)
Please contact us if you have questions about the ACA and how it affects you or your business.