Dive Brief:
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The CMS released its guidance on a new special enrollment period (SEP) currently underway for consumers who were unable to get marketplace coverage due to missed tax filing requirements.
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Those who qualify for the SEP are eligible to enroll in marketplace plans until March 31.
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The issue involves those who did not file a 2014 tax return to reconcile their advance premium tax credits (APTC) for the previous year. To qualify, consumers must resolve the tax issue, and must also have previously attempted to enroll in 2016 coverage.
Dive Insight:
The announcement of the new SEP comes just a few weeks after CMS' recent news it would be limiting special enrollment opportunities in 2016 in response to pressure from insurers concerned that consumers have been taking advantage of the SEPs to sign up when they become sick and then drop their plans soon after incurring costs.
CMS explains, "Coverage year 2016 is the first year in which the requirement to file a tax return and reconcile previously paid APTC is in effect and many consumers who received APTC in 2014 may not have been required to file a tax return in previous years."
Insurers are hoping that generally reducing SEPs will help stabilize premiums and balance the risk pool.