The US Department of Health and Human Services is making noteworthy changes to Medicaid in 2023. This article will highlight some of the most significant aspects of the update.
Significant Changes to Medicaid
- Enhancing Consumer Options and Choice (CMS finalizes changes to require issuers in the Federally-facilitated Marketplace (FFMs) and State-based Marketplaces on the Federal Platform (SBM-FPs) to offer standardized plan options at every product network type, at every metal level, and throughout every service area that they offer non-standardized options in PY 2023 and beyond.)
- Advancing Health Equity (Refine Essential Health Benefits (EHB) Nondiscrimination Policy for Health Plan Designs)
- Lowering Premiums and Strengthening Markets (For the 2023 benefit year, CMS finalizes an FFM user fee rate of 2.75% of premium and a SBM-FP user fee rate of 2.25% of premium.)
- Enhancing the Consumer Experience (Advanced Payments of the Premium Tax Credit (APTC) Proration)
While the above information includes many of the primary changes to Medicaid in 2023, you can view a detailed explanation of all upcoming changes at the Centers for Medicare & Medicaid Services website.
Successfully Adapting to the Upcoming Medicaid Changes
At the Falcone Law Firm, our Medicaid Planning experts understand the intricacies of Medicaid and can walk you through the proper steps to prepare for all upcoming changes. Contact us today to schedule a consultation.