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The Centers for Medicare &
Medicaid Services (CMS) recently published two reports, the Effectuated
Enrollment report and The Health Insurance Exchanges Trends report.
These
reports show that less than two months after selecting a plan on the Exchanges
(during Open Enrollment, which ended January 31, 2017), nearly 2 million people
had not paid their insurance premium to effectuate and maintain their health
coverage.
While this number will be adjusted
for individuals who effectuate their coverage in March 2017, exit survey data
also contained in the reports indicate that cost is the top reason cited for
ending their coverage.
“Consumers
are sending a clear message that cost and affordability are major factors in
their decision to cancel or terminate coverage,” said CMS Administrator Seema
Verma.
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