Deadline moved to Sept. 5 for insurers to file 2018 rates

The deadline for filing final rates for 2018 plans on the Health Insurance Marketplaces in most states is being pushed back nearly three weeks to Sept. 5, the Centers for Medicare & Medicaid Services confirmed today. According to CMS, “Many state departments of insurance have permitted issuers to increase rates for their silver metal level plans for the 2018 benefit year in order to account for uncompensated liability that issuers may face for cost-sharing reductions provided to eligible insured individuals.” The delay is intended to give insurers additional time to take this into account when developing products and plan pricing. If a state chooses to not allow issuers in their state to modify their 2018 rate filings, the state should inform CMS no later than Sept. 5, according to a memo from CMS’s Center for Consumer Information & Insurance Oversight. The current deadline for signing final contracts for 2018 participation is Sept. 27, and open enrollment is expected to begin on Nov. 1.