CMS seeks public comment on reducing regulatory burdens of ACA
To identify and eliminate or change outdated, unnecessary or ineffective regulations that impose superfluous costs or create inconsistencies, CMS issued a Request for Information asking the public for recommendations and input on how to establish a more flexible, efficient approach to the regulatory structure of the individual and small group markets, according to a press release.
“We are looking for valuable feedback on how to change existing regulations in ways that put patients first, promote greater consumer choice, enhance affordability and return more control over healthcare to the states,” Seema Verma, MPH, CMS Administrator, said in the release. “Through this step, CMS is asking consumers to send us innovative ideas that will help stabilize and strengthen the individual and small group health insurance markets.”
Premiums have significantly increased for consumers who acquired health care coverage through the Exchanges, according to CMS. A recent HHS report determined that the 39 states using HealthCare.gov in 2017 experienced a 105% increase in the average premium ($232 in 2013 vs. $476 in 2017). In addition, CMS noted that there are fewer plans to choose from and issuers are constantly leaving the Exchanges.
This Request for Information follows CMS’ issuance of a Market Stabilization Rule for 2018 in April that is aimed to lower premiums, stabilize individual and small group markets and increase health care choices.
Public comment will be open for 30 days.
Disclosure: Healio Internal Medicine was unable to confirm relevant financial disclosures at the time of publication.