Adding, updating, and removing measures. Special Enrollment Period and Open Enrollment Period. During the first years of the ACA, state and federal regulators have extended the Open Enrollment Period (OEP). In addition, more individuals enrolled during Special Enrollment Periods (SEP) than insurers projected. Insurers collect less premium from those members who enrolled later or during a SEP, which causes further upward pressure on premium rates. For the 2018 plan year, the OEP is shortened. Rather than being run from Nov. 1, 2017, to Jan. 31, 2018, it will only run to Dec. 15, 2017,5 with the goal to reduce the potential adverse selection arising from longer OEPs. Further, the rules surrounding SEPs will be stricter, also reducing the potential for adverse selection. In theory, the impact of these changes should exert downward pressure on the rates. However, the extent of the impact is unknown, and how these changes will ultimately impact the morbidity of the risk pool is undetermined.6
For Brokers Contact a Graber & Associates agent today to find out if a Medicare Cost plan can offer you the best of both worlds. Learn more about what Medicare covers
WHO IS COVERED—THE COMPOSITION OF THE RISK POOL. Pooling risks allows the costs of the less healthy to be subsidized by the healthy. In general, the larger the risk pool, the more predictable and stable premiums can be. But the composition of the risk pool is also important. Although the Affordable Care Act (ACA) now prohibits insurers from charging different premiums to individuals based on their health status, premium levels reflect the health status of the risk pool as a whole. If a risk pool disproportionately attracts those with higher expected claims, premiums will be higher on average. If a risk pool disproportionately avoids those with higher expected claims or can offset the costs of those with higher claims by enrolling a large share of lower-cost individuals, premiums will be lower.
As an RMHP Member, you can enjoy certain programs and benefits that help your overall health. Newsletter
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