Recipients Cost-Sharing Reductions Won't Change with Exec. Order
In mid-October, President Donald Trump signed an executive order that ended payments to insurance companies for cost-sharing reductions that go to qualifying individuals and families who purchase insurance on state and federal health insurance exchanges like MnSure. Recipients of these cost-sharing reductions, which help reduce co-payments, deductibles and other out-of-pocket costs for those who qualify, will not see a change in these benefits. Insurance companies are still mandated to provide these cost-sharing reductions, but they will not be paid for them. To make up for this loss, insurance companies in Minnesota and across the country have increased their premiums for plans offered on the exchanges. Individuals and families who qualify for Advanced Premium Tax Credits will not see an increase to their premiums since the portion of their premium they pay is determined solely by their income and the plan they choose. Learn more about Advanced Premium Tax Credits (APTCs) and Cost-Sharing Reductions by clicking here. Use the Bridge to Benefits screening tool to find out if you’re eligible for these programs that lower costs for health coverage and care.