CMS addresses 'condition' of ACA exchanges, individual markets
The Centers for Medicare & Medicaid Services (CMS) has distributed a press release addressing the “current condition” of the Affordable Care Act (ACA) exchanges and individual health insurance markets. CMS has also distributed three reports that demonstrate that “state markets are increasingly failing to cover people who do not qualify for federal subsidies even as the Exchanges remain relatively stable.”
CMS Administrator Seema Verma is emphasizing that “high-price plans on the individual market are unaffordable and forcing unsubsidized middle class consumers to drop coverage.”
According to CMS…
– “Serious problems in the individual health insurance market emerged in 2016,” including declines in unsubsidized enrollment and a clear “death spiral” for the unsubsidized portion of some state individual markets.
– It took action in 2017 that addressed market stability issues.
– ACA enrollment for 2018 has “remained steady.”
– “Rising premiums dramatically increase the federal cost of subsidies and leave unsubsidized people with few if any coverage options.”
CMS also expects “a significant number of people who effectuated coverage in early 2018 will not stay in their plans for the full year” because of costs associated with rising premiums.
Finally, CMS says that it will continue to take steps to stabilize the market and provide consumers with “more affordable health coverage options.”
Click for CMS press release
Click for CMS ‘Early 2018 Effectuated Enrollment’ report
Click for CMS ‘Trends in Subsidized and Unsubsidized Individual Health Insurance Market Enrollment ’ report
Click for CMS ‘The Exchanges Trends’ report