Friday, November 22, 2024
11/22/2024
Alaska State Innovation Waiver under section 1332 of the Affordable Care Act was approved in July 2017 and is effective January 1 2018 through December 31 2022. The waiver has helped lower healthcare premium costs and stabilize the individual health insurance market. The 1332 waiver is a prime example of a successful state federal partnership one which helps the Affordable Care Act meet its goals by making insurance more affordable to individual Alaskans. Alaska is utilizing the flexibility granted to states through the Section 1332 process to stabilize the individual healthcare market and waive the single risk pool as described in 1312c1 to a limited extent. Alaska was granted the first reinsurance waiver in the nation. Since 2017 15 states have developed reinsurance programs and used 1332 waivers to partially fund their programs. Under the proposed waiver extension Alaska would continue to waive the Single Risk Pool for the Individual Market 1312c1 to the extent it would otherwise require excluding total expected state reinsurance payments when establishing the marketwide index rate. The federal government would continue to provide pass through funds to ensure the long term stabilization and viability of Alaska individual health insurance market. Alaska would continue to receive the federal funding to subsidize the Alaska Reinsurance Program ARP based on savings that would be generated because of a reduction in Advanced Premium Tax Credits APTC. The state would appropriate the remaining amount of funds necessary to ensure the ARP is fully funded after adjusting for medical inflation. The State Innovation Waiver would be effective January 1 2023 for a period of five years.
HHS’ Tracking Accountability in Government Grants System (TAGGS) website provides access to detailed descriptions of grants, loans, aggregated direct payments and other types of financial assistance awarded by the HHS Operating Divisions (OPDIVs) and the Office of the Secretary Staff Divisions (STAFFDIVs).
