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Chief Healthcare Executive December 21, 2024
New Guidance Allows Premium Credits For Consumers
Health Affairs August 6, 2020
On August 4, 2020, the Centers for Medicare and Medicaid Services (CMS) issued new guidance and a press release to enable insurers in the individual and small group markets to temporarily reduce monthly premiums via a premium credit. Premium credits can be given for one or more months, but the policy is temporary and extends only through the end of the calendar year. Insurers that offer coverage through HealthCare.gov must notify CMS about premium credits before October 1, 2020.
A temporary reduction in premiums could be of significant help to consumers, especially those facing financial instability from the pandemic. This would help enrollees maintain their current coverage, stave off higher rates of uninsurance, and help ensure that families are not...
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