public exchanges
July 22nd was quite an eventful day as it relates to the Affordable Care Act (ACA). On the same day, two different U.S. Courts of Appeals came to opposite conclusions as it relates to the ability for federally-facilitated Exchanges to provide subsidies to enrollees.
On June 26, 2014, the Department of Health and Human Services (HHS) issued proposed regulations on the renewal process for individuals that have purchased health coverage through the Exchange. The regulations aim to streamline the renewal process by auto-enrolling the vast majority of existing members into a health plan for the 2015 plan year.
- The Department of Health and Human Services (HHS) has reported Exchange application submissions have exceeded 3 million.
- The Congressional Budget Office (CBO) has updated 2014 Exchange enrollment estimates to 6 million.
- Some reports are showing that 22,000 Exchange applicants were enrolled in the wrong plan or received a lower subsidy than expected, 15,000 Exchange applications were lost and only 11% of Exchange applicants were previously uninsured.
The U.S. Department of Health and Human Services (HHS) published a report earlier this week with details about enrollment numbers and other information as it relates to state and federal insurance exchanges. Below is a list of some key information that was included in the report.
Last week, President Obama announced that Americans can keep individual health insurance policies that they were told will be canceled because they failed to meet requirements established by the Affordable Care Act (ACA).
The 2014 Medicare Annual Enrollment Period (AEP) is just one week away and there is a lot of confusion among seniors in regards to their benefits. With all of the news and other programs focusing on driving people to the Public Exchanges that are now open for business, it is easy to understand why.
The individual mandate requirement of the Affordable Care Act (ACA) has everyone clamoring to find out how it applies to them so communication to senior clients is very important.
The public insurance exchanges are expected to introduce a new way for individuals to obtain health insurance coverage next year. However, with the introduction of these exchanges comes a number of complexities and nuances. That includes the topic of premium payment processing and late payments.
Individuals that qualify for Advanced Premium Tax Credits (APTC) through the exchanges will have a portion of their premium subsidized by the federal government, but the balance of the premium will be their responsibility.
The Health Insurance Marketplaces, also known as the Exchanges, are supposed to be operational in two months. October 1, 2013 is the expected date when individual consumers and small businesses can start to enroll in coverage through the Exchanges for the 2014 calendar year.
Guidance issued on May 1, 2013 confirms that producers will play a significant role in helping individuals and employers enroll in coverage through the Federally-facilitated and State Partnership Exchanges.
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