Tuesday, July 31, 2018

Interesting news from HHS

Via email this morning:

"[On Friday], July 27, the Centers for Medicare & Medicaid Services (CMS) [began] implementing a new policy that allows consumers to request same day Marketplace coverage termination (i.e., the termination takes effect on the date of their request) instead of the previous requirement to give 14 days prior notice."

This is actually very helpful, since sometime folk can't know two weeks out whether or not their coverage really will take effect.

For example, you start a new job, and your coverage is set to take effect on August 1. Previously, a Marketplace insured would have had to have cancelled their ObamaPlan mid-July. But what if something came up - such as being fired or quitting - and one needed that Marketplace plan, after all?

And on the other side of this coin:

 "Consumers can also set their Marketplace coverage end date to a day in the future."

Sort of post-dating a cancellation. As  noted above, I'd be less inclined to advise this course of action.

These new rules are definitely more consumer-friendly, and a welcome change.

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