ObamaCare deadline for insurers delayed by three weeks

ObamaCare deadline for insurers delayed by three weeks
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The Trump administration is giving insurers more time to file their 2018 rate requests for ObamaCare plans. 

The Centers for Medicare and Medicaid Services said Thursday it would extend the deadline by three weeks, to Sept. 5, with a final deadline of Sept. 20.

The change comes as insurers wait to hear from the Trump administration about whether it will continue key ObamaCare subsidy payments known as cost-sharing reductions. 

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Those payments reimburse insurers for providing discounted plans to low-income customers, but it is unclear if the Trump administration will continue them long-term.

The payments have been made on a month-to-month basis while the administration makes a decision, but insurers want a longer term commitment and have threatened to increase premiums or leave the market if they aren't continued.

The CMS memo said there have been "no changes" to the Health and Human Services Department's ability to make the payments. But the extension is so the CMS can make changes to the risk-adjustment formula.

The final deadline for insurers to sign contracts to participate in ObamaCare markets next year is still Sept. 27. Open enrollment begins Nov. 1.