The public exchange managers in New York state may already know roughly how many issuers they can hope to have on the menu in 2017.
The NY State of Health exchange, a state-based Patient Protection and Affordable Care Act (PPACA) exchange, issued a formal invitation to insurers last week. Informal letters of interest are due today, according to a schedule of key events included in the invitation.
The insurers that submit letters of interest to NY State of Health can still withdraw from the 2017 exchange plan menu.
Exchange managers want insurers to submit all medical policy forms and rates to the New York State Department of Financial Services by May 9.
State insurance regulators hope to get decisions on the rate proposals out by July 28, and the NY State of Health hopes to certify the exchange plans on its 2017 menus by Sept. 9.
The open enrollment period for 2017 is set to run from Nov. 1 through Jan. 31, 2017.
The New York exchange market suffered a blow in September 2015, when state and federal regulators announced that Health Republic Insurance Company of New York would shut down at the end of November. Health Republic of New York had used unusually low rates to attract about 200,000 enrollees.
NY State of Health managers, the New York financial services department and the Centers for Medicare & Medicaid Services (CMS) have taken control of Health Republic and stopped its operations, but they have not yet put it in formal rehabilitation or liquidation proceedings.
A representative for UnitedHealth Group Inc. (NYSE:UNH) testified in January that it had concerns about the effects of the loss of market participants on the performance of the PPACA risk-adjustment program in New York state markets.
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