Federally Facilitated Exchanges Are Almost Ready, in Health Insurance Marketplace News

Linda Tiano, a Member of the Firm in the Health Care and Life Sciences practice, in the firm's Washington, DC, and New York offices, wrote an article titled "Federally Facilitated Exchanges Are Almost Ready."

Following is an excerpt:

On March 1, 2013, the Center for Consumer Information and Insurance Oversight and the Centers for Medicare & Medicaid Services released lengthy and detailed draft guidance regarding the federally facilitated exchanges that will operate in the 26 states that have chosen not to establish their own exchanges or partner with CMS.

Although the guidance was issued in draft form, CCIIO and CMS allowed only two weeks for the public to submit comments and, as described below, CMS had intended to start accepting issuer applications to the FFEs on April 1, 2013. Final Guidance was issued April 5, 2012.

In addition, the application form and instructions are available online for issuers that have notified CMS of their intention to submit and obtain a CMS Health Insurance Oversight System plan ID. The form is lengthy and requires the submission of extensive and detailed data. Therefore, it is important to start the process as early as possible to ensure that all information and data are loaded in a timely manner.