Insurance regulators nationwide are offering filing deadline extensions and other flexibilities to incentivize health insurers to remain in the 2018 ACA exchanges, according to The Hill.
Uncertainty surrounding the future of the ACA's cost-sharing reductions — which compensate payers for subsidizing costs for lower-income individuals — and the future of the health law are forcing insurers to consider their ACA exchange participation. Payers have until June 21 to file plans with the federal government to operate on the exchanges.
Here are four things to know about some state regulators' actions.
1. John Franchini, insurance superintendent for New Mexico, told The Hill, "instead of being rigid on timelines, the type of pricing I'm going to want, I'm being more open about this." He added, "I'm trying to be more flexible to give them confidence that if things change, we as regulators will be flexible with them."
2. In California and several other states, insurance regulators are allowing payers to file two rounds of premium requests. The first considers the continuation of the ACA's CSRs, and the second considers the discontinuation of the CSRs.
3. Mike Kreidler, Washington state's insurance commissioner, told The Hill he may be interested in creating a reinsurance program, similar to Alaska. In addition, Mr. Kreidler said he is considering proposing a tax relief for insurers selling plans in rural counties, as well as requiring insurers to offer plans in rural and urban areas.
4. Tennessee Insurance Commissioner Julie Mix McPeak worked with Chattanooga-based BlueCross Blue Shield of Tennessee to draw the insurer back to the state's individual market after Louisville, Ky.-based Humana declared its exit from the 2018 exchange. Ms. McPeak told BCBST it could leave the market "in the event of any post-bid changes that destabilize the market," The Hill reports.