CMS Amends ACA Rule on Insurance Rate Increase Disclosures
The CMS Center for Consumer Information and Insurance Oversight has published a final rule that amends a May 23, 2011 regulation on health insurance rate increase disclosures and review under the Affordable Care Act (ACA). Specifically, in response to public comments, CMS has amended the definitions of ‘‘individual market’’ and ‘‘small group market’’ that apply for rate review purposes to include coverage sold to individuals and small groups through associations, even if the state does not include such coverage in its definitions of individual and small group market. The rule also updates standards for health insurance issuers regarding disclosure and review of unreasonable premium increases. The rule is effective November 1, 2011. A fact sheet is available here.
