Health Insurance Newsroom

Compass Insurance Advisors provides the most up to date Health Insurance News. We are committed to keeping our clients and community educated about recent healthcare reform changes. If you have any questions concerning your health insurance plan, reach out to one of our advisors HERE.

Healthcare Reform News Update for 9/12/2021

Biden-Harris Administration Invests $20 Million in American Rescue Plan Funding to Improve Access to Affordable and Comprehensive Health Insurance.

The U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), is awarding $20 million in American Rescue Plan (ARP) grant funding to State-based Marketplaces (SBMs) to increase consumer access to affordable, comprehensive health insurance coverage. The grants will be used by 21 SBMs to modernize IT systems and/or conduct targeted consumer outreach activities to help make health care coverage enrollment smoother. As a result, consumers will have access to increased financial assistance and eligibility determinations will be made faster.

See the full article here.

Healthcare Reform News Update for 8/26/2021

Increased Access to Healthcare Navigators

The Biden-Harris Administration is expanding the number of Navigator organizations to help people enroll in coverage through the Marketplace, Medicaid, or the Children’s Health Insurance Program (CHIP) in 30 states with a Federally-Facilitated Marketplace. Through $80 million in grant awards for the 2022 plan year, 60 Navigator awardee organizations will be able to train and certify more than 1,500 Navigators to help uninsured consumers find affordable and comprehensive health coverage.

See the full article here.

Healthcare Reform News Update for 8/15/2021

Obamacare and Healthcare Access for Minorities

The Affordable Care Act (ACA) reduced the ranks of uninsured Americans, but a recent study shows that many U.S. states did little to close racial gaps in health coverage.

See the full article here.

Healthcare Reform News Update for 8/09/2021

American Rescue Plan Batch Redetermination of APTC

For a select group of consumers who have their plans through the federal marketplace, a batch redetermination will issued and become effective September 1, 2021. If someone has not refiled their health insurance application to take advantage of the the increased tax subsidy under the American Rescue Plan Act, their applications and financial support will now be automatically re determined. The group of consumers this redetermination applies to include consumers who:

  • Are APTC-eligible in their latest application version; and
  • Have a share of premium they currently are paying after APTC great than $0; and
  • Elected to apply their full APTC amount to their plan; and
  • Have not updated their enrollment after April 1, if they have not received UC, or after July 1, they have attested to receiving UC.

See CMS slides here for more information.

Healthcare Reform News Update for 8/01/2021

CMS Issues Guidance to Ensure Consumers Continue Receiving Financial Assistance for HealthCare.Gov Coverage

The Centers for Medicare & Medicaid Services (CMS) in coordination with the Internal Revenue Service (IRS) is releasing guidance to ensure consumers continue to receive the tax credits they are eligible for through their Marketplace plan. For plan years 2021 and 2022, CMS will not remove the financial help consumers enrolled through the Health Insurance Marketplace® receive to pay for their health coverage if they did not file tax returns and reconcile a previous year’s premium tax credit. However, consumers are generally still required to file and reconcile premium tax credits with the IRS for their federal income tax returns, with the exception of consumers who received excess premium tax credits in plan year 2020. Anyone who received excess tax credits for year 2020 was granted forgiveness on repaying any of the tax credit back due to the Coronavirus pandemic.

Healthcare Reform News Update for 7/26/2021

University of Utah Health Awarded on Newsweek’s World’s Best Smart Hospitals 2021 List

University of Utah Health has been awarded on Newsweek’s list of World’s Best Smart Hospitals 2021. This prestigious award is presented by Newsweek and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list was announced on June 9th, 2021 and can currently be viewed on Newsweek’s website.

Healthcare Reform News Update for 7/19/2021

Healthcare enrollments surpass 2 Million during 2021 Special Enrollment Period

Healthcare enrollments surpass 2 Million during 2021 special enrollment period ahead of Aug. 15 deadline. “The American Rescue Plan has made health coverage more affordable and accessible than ever – and people are signing up. Health coverage provides the peace of mind that every American deserves,” said CMS Administrator Chiquita Brooks-LaSure. “Through August 15, the American people have an opportunity to select a quality health care plan that works for them, with costs that are at an all-time low. CMS is dedicated to ensuring people in our communities have the coverage they need.”

Healthcare Reform News Update for 7/12/2021

Intermountain Healthcare in Utah is closing 25 of its 26 Retail Pharmacies

Intermountain healthcare in Utah is closing 25 of its 26 retail pharmacies. Inpatient pharmacies will not be affected. Intermountain healthcare will now begin referring patients to CVS. The retail pharmacies suffered 11 million in loses in 2020 and has seen 6 million in loses so far in 2021. Intermountain healthcare will transfer prescriptions and inventory to CVS Pharmacy by August 2021.

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