Federal health officials have pushed back the final approval date for insurance plans that will be sold on ObamaCare’s new marketplaces.
The Health and Human Services (HHS) Department told insurance companies Tuesday that it will not sign final agreements related to the plans until mid-September rather than Sept. 5-9.
The approvals cap a long process for insurance companies hoping to sell their products on the new marketplaces, which are ObamaCare’s chief mechanism for providing coverage to the uninsured.
Each of the plans sold must meet specific requirements, and the insurer must sign a special agreement with the federal government in order to participate in the exchanges.
The additional week or two for approval will ensure that technical issues are resolved and plans are displayed correctly in the new marketplaces, according to HHS.
Department spokeswoman Joanne Peters stated that the marketplaces are still “on track to open” this fall despite the modified timetable for finalizing plans.
The adjustment will provide “additional flexibility and time to handle technical requests,” she said.