13
December , 2017
Wednesday

Email This Post Email This Post

Insurers will now have the choice to extend transitional policies for an additional year to ease transition under Affordable Care Act

CHICAGO, IL — The Illinois Department of Insurance (DOI) announced that Illinois will comply with the federal government’s request for an extension of transitional health plans for the 2015 plan year. This extension will give insurers the option to renew existing plans with current policyholders for one year, beginning on or before October 1, 2015, in the small group and individual markets. Plans eligible for renewal under this extension will not be considered out of compliance with market reforms.

“Illinois is pleased to support President Obama’s efforts to make the transition under the Affordable Care Act as smooth as possible” DOI Director Andrew Boron said. “This extension will benefit consumers, allowing individuals to keep their current plans during this time of transition as we strive to provide better and more affordable healthcare for each and every individual.”

On March 5, 2014 the Centers for Medicare & Medicaid Services (CMS) issued a letter extending the transitional policy for plans in the small group and individual markets. The transitional policy was originally issued on November 25, 2013, following President Obama’s request to give insurers the choice to renew existing health insurance policies for the 2014 plan year.

Under the extension, plans sold before January 1, 2014 and renewed between January 1, 2015 and October 1, 2015 will be eligible for renewal under this extension. The Department of Insurance will join with the federal Department of Health and Human Services to forego enforcement of certain Affordable Care Act requirements. For more information, the Department of Insurance has issued Company Bulletin 2014-04 setting forth the guidelines that apply to renewals under this extension.

You can leave a response, or trackback from your own site.

Leave a Reply

You must be logged in to post a comment.

Recent Comments

Welcome to CopyLine Magazine! The first issue of CopyLine Magazine was published in November, 1990, by Editor & Publisher Juanita Bratcher. CopyLine’s main focus is on the political arena – to inform our readers and analyze many of the pressing issues of the day - controversial or otherwise. Our objectives are clear – to keep you abreast of political happenings and maneuvering in the political arena, by reporting and providing provocative commentaries on various issues. For more about CopyLine Magazine, CopyLine Blog, and CopyLine Television/Video, please visit juanitabratcher.com, copylinemagazine.com, and oneononetelevision.com. Bratcher has been a News/Reporter, Author, Publisher, and Journalist for 33 years. She is the author of six books, including “Harold: The Making of a Big City Mayor” (Harold Washington), Chicago’s first African-American mayor; and “Beyond the Boardroom: Empowering a New Generation of Leaders,” about John Herman Stroger, Jr., the first African-American elected President of the Cook County Board. Bratcher is also a Poet/Songwriter, with 17 records – produced by HillTop Records of Hollywood, California. Juanita Bratcher Publisher

Recent Posts