State delaying merged health insurance markets
It's not the permanent waiver he requested, but Gov. Charlie Baker announced Thursday that two health insurance markets will not be merged for at least a year, a development that the administration says will prevent "price shock" among employers with between 51 and 100 employees.
While the Affordable Care Act requires that the small group market be defined by Jan. 1, 2016 as groups of between 1 and 100 eligible employees, a Division of Insurance bulletin issued Thursday authorizes carriers in the so-called large group market to renew plans for employers with 51-100 employees based on a transitional policy authorized by the federal government in March.
"I am pleased to announce that this guidance will help mitigate substantial premium increases for many Massachusetts residents," Baker said in a statement. "Allowing employers with 51-100 employees to remain in the large group market will retain a level of rate predictability and plan flexibility for both employers and their employees."
In April, Baker asked the Centers for Medicare and Medicaid Services for a permanent waiver from the change, which the administration says will subject larger employers to small group market rules.
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