CMS: Exchange plans can opt to reduce 2020 premiums
The Centers for Medicare & Medicaid Services will allow health insurers to offer premium reductions for individuals with 2020 coverage in the individual and small group markets when consistent with state law, the agency announced today.
The policy is effective for the rest of 2020 due to the COVID-19 emergency, CMS said. Under federal requirements, health plans in individual and small group markets usually cannot change their premiums after the start of the benefit year.
“Today’s action is just the latest in a series of flexibilities CMS has extended to health insurers to help them support their enrollees during this unprecedented time,” said CMS Administrator Seema Verma.
Related News Articles
Headline
The Centers for Disease Control and Prevention Dec. 11 released a report that found last year’s version of the COVID-19 vaccine was 76% effective in preventing…
Headline
The AHA provided recommendations to the Food and Drug Administration Dec. 1 in response to a request for information on the measurement and evaluation of…
Headline
The Food and Drug Administration has identified a Class I recall of Baxter Life2000 Ventilation Systems due to a cybersecurity issue discovered through…
Headline
Flu cases are growing or likely growing in 39 states, according to the latest Centers for Disease Control and Prevention data from Nov. 11. COVID-19…
Headline
The Food and Drug Administration yesterday published an announcement from Otsuka ICU Medical saying that the company issued a voluntary recall for a mislabeled…
Headline
A study published Oct. 30 by the American Heart Association found that people have an elevated risk of heart attack and stroke following flu and COVID-19…