Sometime last week Trump signed an executive order that would make changes to the Affordable Care Act. The public has began in a panic ever since as they are worried that the order would dramatically affect the premiums of their insurances.
Luckily, states and insurers have taken several approaches to managing the CSR uncertainty,. Some states have offered guidance or positive instruction, while others have left decisions entirely to the insueres. The choices that they have made will reshape the
relative value of plans offered at different metal levels to various income groups and determine who bears the brunt of the federal government’s potential abdication of responsibility for CSR reimbursement
The choices made by states and insurers include:
Assume CSR is paid in a time manner
Assume CSR is not paid and load all costs onto plans at all metal levels
Assume CSR is not paid and load all costs only to all Silver Plans
Assume CSR is not paid and load all costs only onto exchange Silver plan
-insurers are required to sell any plan offered on the exchange off-exchange as well, but they may sell additional plan off-exchange only Silver plans would not have CSR costs loaded
In hindsight, Trump’s executive order will not affect the individual marketplace for 2018. It may have impact from 2018-2019 and the 2019 Open Enrollment, but not dramatically.
If you have any questions regarding Trump’s executive order and its affects and you’re worried about your health insurance, call Cosmo Insurance Agency today. Our brokers our knowledgeable about the effects of Trump’s executive order and can help you to understand how this will impact you (0%).