CMS lets payers temporarily reduce 2020 premiums

CMS said Aug. 4 that it will allow health insurers to temporarily lower premiums for members in the individual and small group markets to help Americans who are facing financial hardship amid the COVID-19 pandemic.

Under current regulations, health insurers can't change premiums for their plans after the start of the benefit year. 

The new policy will allow health insurers to lower premiums for a few months this year, if state law allows it as well. The change is effective through the end of 2020.

To read more about the change, click here.

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