CMS continues to implement the premium stabilization programs
The Centers for Medicare & Medicaid Services (CMS) took the next steps in implementing two of the Affordable Care Act’s premium stabilization programs – risk adjustment and reinsurance – that help keep premiums affordable and provide consumers with a range of coverage choices. CMS released a report detailing the estimated reinsurance payments by issuer and providing additional information on the premium stabilization programs.
“These important programs are protecting consumers’ access to a wide range of affordable coverage choices in a new health insurance market in which no one can be denied coverage or charged higher premiums simply due to a pre-existing condition,” said Kevin Counihan, CEO of the Health Insurance Marketplaces. “The early results for the risk adjustment and reinsurance premium stabilization programs demonstrate that these programs are working as intended, which will help keep premiums stable and encourage insurance companies to compete on quality and price, not who can attract the healthiest enrollees.”