H.R.689 - Premium Relief Act of 2021117th Congress (2021-2022) |
|Sponsor:||Rep. Burgess, Michael C. [R-TX-26] (Introduced 02/02/2021)|
|Committees:||House - Energy and Commerce; Ways and Means|
|Latest Action:||House - 02/03/2021 Referred to the Subcommittee on Health. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.689 — 117th Congress (2021-2022)All Information (Except Text)
Introduced in House (02/02/2021)
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.