The HHS issued a final rule to reduce the ACA enrollment period, which may instill more confidence in payers over the individual marketplace, according to Reuters.
Here are five notes:
1. The rule will go into effect later this year.
2. Some health expert say the rule will pose challenges for many consumers when buying insurance and may increase out-of-pocket medical expenses.
3. The Trump administration's rule will allow payers more authority in determining their coverage's value. The rule may permit payers to collect unpaid premiums.
4. The rule comes in the wake of various insurance experts voicing concern over the insurance market's instability. A Washington, D.C.-based America's Health Insurance Plans spokesperson said payers want to know what the administration will do regarding cost sharing reduction subsidies as the deadline for 2018 premium proposals draws nearer.
5. Most payers have until June 21 to file their 2018 premium request, with government funding for 2017 set to expire on April 28.