CMS lets payers temporarily reduce 2020 premiums

CMS said Aug. 4 that it will allow health insurers to temporarily lower premiums for members in the individual and small group markets to help Americans who are facing financial hardship amid the COVID-19 pandemic.

Under current regulations, health insurers can't change premiums for their plans after the start of the benefit year. 

The new policy will allow health insurers to lower premiums for a few months this year, if state law allows it as well. The change is effective through the end of 2020.

To read more about the change, click here.

More articles on payers:
Anthem agrees to pay $27K medical bill after TV report airs
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Financial updates from Anthem, Cigna & 2 more payers

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