Premium Relief Act of 2021
- Last Action
- 2/3/2021
Actions
- 2021-02-03Referred to the Subcommittee on Health.
- 2021-02-02Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-02-02Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-02-02Referred to the Subcommittee on Health.
- 2021-02-02Introduced in House
- 2021-02-02Introduced in House
CRS Summary
As of 2021-02-02 (00)
Premium Relief Act of 2021
This bill establishes and provides funding through FY2024 for the Patient and State Stability Fund, which shall be used to support specified state efforts to increase access to health-insurance coverage and help stabilize the individual market. Specifically, states may use the funds to (1) lower the cost for individuals to purchase coverage, (2) lower out-of-pocket costs for individuals with insurance, (3) pay health care providers, (4) cover or provide additional specified services, and (5) otherwise increase coverage options and stabilize premiums in the state's insurance market.
If a state does not apply for funds under the program, the Centers for Medicare & Medicaid Services, in consultation with the state, must use the funds to stabilize premiums by partially reimbursing insurers for claims in a specified cost range.
The bill also revises the grace period that health insurers must provide to recipients of premium subsidies before discontinuing health coverage for nonpayment of premiums. The grace period is shortened from 3 months to 30 days unless state law includes an applicable grace period.
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.