CMS announces risk corridor payments, charges for 2015 benefit year
The Centers for Medicare & Medicaid Services recently announced the risk corridors payments and charges for health insurance issuers for benefit year 2015. The risk corridors program, which began in 2014 and runs through 2016, transfers funds from qualified health plans that earned more than a certain threshold in profit in the Health Insurance Marketplace to QHPs that experienced financial losses beyond a specified threshold. As announced in September, all collections for the 2015 benefit year will be used to pay a portion of remaining 2014 claims, which exceeded collections for that benefit year. CMS is collecting 2015 risk corridor charges this month and expects to begin remitting payments to issuers in December.
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