Health Insurers are Given More Time to Determine 2018 Rates

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The health companies were given a 3-week extension to file their rate requests due to the uncertainty with the healthcare legislation. The extension was announced in a memorandum that insurers received a few weeks ago from the federal Centers for Medicare and Medicaid Services, which runs the federal insurance marketplace and regulates insurers under the Affordable Care Act.

The new date insurers should be filing their rates is Sept. 5th. Lawmakers are not scheduled to return from their summer recess until September 5th so they will should not have any further input on what will happen with the healthcare legislation. The concern for insurance companies is whether Trump will carry out his threat that he will stop paying the subsidies the insurance companies rely upon to help keep insurance affordable to low income individuals. The subsides compensate insurance carriers for reducing deductible, co-payments and other out-of-pocket medical costs and help keep insurance affordable.

https://www.cnbc.com/2017/06/20/health-insurers-place-bets-on-2018-rates-as-deadline-hits.html

https://www.nytimes.com/2017/08/13/us/politics/health-insurers-get-more-time-to-calculate-increases-for-2018.html

https://www.kff.org/health-reform/issue-brief/an-early-look-at-2018-premium-changes-and-insurer-participation-on-aca-exchanges/