ACA
The Affordable Care Act (ACA) has eliminated the need for certificates of creditable coverage (a.k.a. HIPAA notices) as of this year. These notices detailed the amount of time a person was covered under a health plan, and their primary purpose was to reduce or eliminate pre-existing condition waiting periods when someone was changing from one health plan to another. Since the ACA has eliminated pre-existing condition waiting periods in almost all market segments, these notices are deemed to be no longer relevant.
July 22nd was quite an eventful day as it relates to the Affordable Care Act (ACA). On the same day, two different U.S. Courts of Appeals came to opposite conclusions as it relates to the ability for federally-facilitated Exchanges to provide subsidies to enrollees.
On June 26, 2014, the Department of Health and Human Services (HHS) issued proposed regulations on the renewal process for individuals that have purchased health coverage through the Exchange. The regulations aim to streamline the renewal process by auto-enrolling the vast majority of existing members into a health plan for the 2015 plan year.
The Department of Health and Human Services (HHS) issued some new guidance on May 2, 2014 as it relates to Special Enrollment Periods and Hardship Exemptions in the individual marketplace. The new guidance has been summarized below:
Applies to those who have started the enrollment process and experienced an error
Last week, the Obama administration released several new Affordable Care Act (ACA) guidelines. Of particular note, any individual or small group with a non-ACA compliant plan will be able to keep that plan in place for additional time.
Today is the last day of February which means we are only one month away from the end of the first open enrollment period for individual health plans. March 31st is the last day that individuals can sign up for coverage without a qualifying event, but there is one big question that is still looming – Will the open enrollment period get extended to a later date?
Yesterday, IRS officials made a significant announcement that impacts the Employer Shared Responsibility requirements, also known as the Employer Mandate. New guidance issued by the IRS confirms that a new phased approach will be utilized to implement it.
The new approach has 3 significant changes to the previously written rules:
- The Department of Health and Human Services (HHS) has reported Exchange application submissions have exceeded 3 million.
- The Congressional Budget Office (CBO) has updated 2014 Exchange enrollment estimates to 6 million.
- Some reports are showing that 22,000 Exchange applicants were enrolled in the wrong plan or received a lower subsidy than expected, 15,000 Exchange applications were lost and only 11% of Exchange applicants were previously uninsured.