public exchanges
The Exchanges are supposed to have verification systems in place to help determine if an enrollee has access to affordable health insurance coverage from their employer. Since the Employer Mandate reporting requirements are being delayed until 2015, the Exchanges won't have this verification system in place next year.
Instead the Exchanges will have to rely on self-reporting for this information in 2014.
Most health insurance professionals have some familiarity about the government subsidies that will be available next year to eligible individuals. These subsidies will reduce insurance premiums and out-of-pocket medical expenses for those that qualify, and will only be available to individuals that enroll in coverage through health insurance marketplaces, also known as the public exchanges.
Most employers will be required to provide a written notification to employees in regards to the ability to access coverage through the new Health Insurance Marketplaces, also known as the exchanges. Even employers that don't provide coverage to their employees will be required to provide this written notification.
The Center for Medicare and Medicaid Services (CMS) issued a statement on April 30, 2013 that the public exchange applications, officially referred to as the Marketplace Consumer Applications, have been revised.
The Invidual Short Form is now just three pages in length. The Family Form is also said to have been reduced by about two-thirds its original length.
What will the exchanges look like? What are the exchange deadlines? How will subsidies and payments be processed? There constantly seems to be questions about the health insurance marketplaces, also known as the exchanges.
The Center for Medicare & Medicaid Services (CMS) released a progress fact sheet about the exchanges on April 22, 2013. This new information provides additional details about eligibility and enrollment, plan management, financial management, consumer support and more.
Last week the U.S. Department of Health and Human Services (HHS) released proposed regulations about the role of Navigators. The new guidance provides some clarification about the role of Navigators, but it has several producers questioning how they will be compensated for their services next year.
Navigators are organizations that will provide unbiased information to consumers about health insurance.
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