health insurance marketplace
On March 11, 2021, President Joseph Biden signed into law the American Rescue Plan Act (ARPA). ARPA is the third stimulus package signed into law in response to the COVID-19 pandemic. Under ARPA, two significant provisions were included that will help more Americans obtain and pay for health insurance coverage.
The Centers for Medicare & Medicaid Services (CMS) announced earlier this month that plans sold on the Health Insurance Marketplace (Marketplace) will receive quality ratings using a five-star system (with 5 stars representing the highest quality plan).
Most employers will be required to provide a written notification to employees in regards to the ability to access coverage through the new Health Insurance Marketplaces, also known as the exchanges. Even employers that don't provide coverage to their employees will be required to provide this written notification.
The Center for Consumer Information and Insurance Oversight (CCIIO) published guidance on May 1, 2013 about the role of insurance producers in the Health Insurance Marketplaces, also referred to as the public exchanges.
The guidance suggests that insurance producers will play a valuable role in facilitating public exchange enrollments starting this October.
The Center for Medicare and Medicaid Services (CMS) issued a statement on April 30, 2013 that the public exchange applications, officially referred to as the Marketplace Consumer Applications, have been revised.
The Invidual Short Form is now just three pages in length. The Family Form is also said to have been reduced by about two-thirds its original length.
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