CMS has issued a final rule addressing health insurance exchange and insurance market standards under the Patient Protection and Affordable Care Act for 2015 and beyond.
The rule contains various requirements for health insurers, the exchanges and navigators or assisters who help consumers get coverage through the exchanges, among other entities affected by the PPACA. The rule also proposes standards for product discontinuation and renewal, quality reporting, non-discrimination standards, the Small Business Health Options Program, and minimum certification standards and responsibilities of insurers offering qualified health plans through the exchanges.
The rule also adjusts the risk corridors formula for health insurers — raising the ceiling on allowable administrative costs and the floor on profits by 2 percent — to let payers account for pricing uncertainties, among other policy changes.
For more information, view the full final rule here.
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