Sec. 2. Establishing a program of risk corridors for health insurance issuers offering health insurance coverage in the individual or small group market for certain plan years
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The Secretary of Health and Human Services (in this section referred to as the Secretary ) shall establish and administer a program of risk corridors for plan years 2020 and 2021 under which the Secretary shall make payments to health insurance issuers offering health insurance coverage in the individual or small group market based on the ratio of the allowable costs of the coverage to the aggregate premiums of the coverage. The Secretary shall provide under the program established under subsection
(a)that if the allowable costs for a health insurance issuer offering health insurance coverage in the individual or small group market for any plan year are more than 105 percent of the target amount, the Secretary shall pay to the issuer an amount equal to 75 percent of the allowable costs in excess of 105 percent of the target amount. The Secretary shall establish a process under which information is collected from health insurance issuers offering health insurance coverage in the individual or small group market for purposes of carrying out this section. The amount of allowable costs of a health insurance issuer offering health insurance coverage in the individual or small group market for any year is an amount equal to the total costs (other than administrative costs) of such issuer in providing benefits covered by such coverage. Allowable costs shall be reduced by any— risk adjustment payments received under section 1341 of the Patient Protection and Affordable Care Act ( 42 U.S.C. 18061 ); and reinsurance payments received pursuant to a waiver approved under section 1332 of such Act ( 42 U.S.C. 18052 ). For purposes of this section, the terms health insurance issuer , health insurance coverage , individual market , and small group market have the meanings given such terms in section 2791 of the Public Health Service Act ( 42 U.S.C. 300gg–91 ). The target amount of health insurance coverage offered in the individual or small group market for any year is an amount equal to the total premiums (including any premium subsidies under any governmental program), reduced by the administrative costs of the coverage. The Secretary of Health and Human Services may implement the provisions of this section by subregulatory guidance, program instruction, or otherwise. There are appropriated, out of any monies in the Treasury not otherwise obligated, such sums as may be necessary to carry out this section.
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- 42 USC 300gg–91
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Sec. 2
Establishing a program of risk corridors for health insurance issuers offering health insurance coverage in the individual or small group market for certain plan years
Cite42 USC 300gg–91
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