summary
Introduced
04/17/2020
04/17/2020
In Committee
04/17/2020
04/17/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To direct the Secretary of Health and Human Services to establish a program of risk corridors for health insurance issuers offering health insurance coverage in the individual or small group market for certain plan years. This bill establishes a temporary risk corridor program to reimburse health insurers for medical costs that are greater than expected. Specifically, the program requires the Department of Health and Human Services to pay insurers 75% of the cost of providing benefits under a plan that exceeds 105% of the total annual premiums for the plan, reduced by administrative expenses. The program applies to plan years 2020 and 2021.
AI Summary
This bill establishes a temporary risk corridor program to reimburse health insurers for medical costs that are greater than expected. Specifically, the program requires the Department of Health and Human Services (HHS) to pay insurers 75% of the cost of providing benefits under a plan that exceeds 105% of the total annual premiums for the plan, reduced by administrative expenses. The program applies to plan years 2020 and 2021. This is intended to help stabilize the individual and small group health insurance markets and prevent unexpected premium spikes during the COVID-19 pandemic.
Committee Categories
Business and Industry
Sponsors (5)
Last Action
Referred to the House Committee on Energy and Commerce. (on 04/17/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/6518/all-info |
| BillText | https://www.congress.gov/116/bills/hr6518/BILLS-116hr6518ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr6518/BILLS-116hr6518ih.pdf.pdf |
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