CMS Delays Insurance Payout Data from ACA's Risk Corridors

 

The federal government has postponed the release of data that will show how much health insurance companies will receive or be charged under an Affordable Care Act program meant to mitigate the risk of taking on previously uninsured members.

All health insurers that sold plans on the ACA's exchanges had to submit information on the risk corridors program by July 31. The CMS planned to publish data Aug. 14, but the agency pushed back the release to an unknown date because there were inconsistencies in the data.

The goal of the temporary program, which expires after 2016, is to help insurers in the early years of setting premium rates in the ACA's individual and small-group insurance markets. If health insurers lose money on their exchange plans above a certain expected threshold, HHS will cover a specified amount of those losses. Companies that had medical costs that were better than expected have to pay some money back to the government.  Read MORE

Source: Bob Herman, Modern Healthcare [8/10/2015]