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Implementing the Health Care Law
On Tuesday, August 15, 2012, the U.S. Department of Health and Human Services held a health care law implementation forum, below are three things to know:
- The department has yet to release the final rule on Essential Health Benefits, a key aspect of the health care law and important for determining what insurers must cover.
- States must submit their exchange "blueprint" application by November 16th to the CMS Center of Consumer Information and Insurance Oversight (CCIIO).
- In order to stabilize premiums in exchanges, states can chose to have the feds run three types of programs: reinsurance, risk corridors, and risk adjustment. States that opt to run their own exchange can still opt to participate in the risk adjustment program, allowing for a balance between good and poor insurance risks and encourage providers to enter new markets.