The Washington Report
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February 17, 2021
Note to subscribers: Due to the current environment, information is changing at a rapid rate. While we do our best to provide timely updates, it is possible that the information shared in the newsletter may change or be revised after our publication deadline. Stay healthy and safe! ~The Washington Report team
Health
2021 SEP for Marketplace Coverage to Run Through May 15
The Centers for Medicare & Medicaid Services (CMS) recently announced that in accordance with the Executive Order signed by President Biden (“Strengthening Medicaid and the Affordable Care Act”), the Special Enrollment Period (SEP) for the Health Insurance Marketplace will officially be available to consumers in the 36 states that use the HealthCare.gov platform beginning on Monday, February 15, 2021, and continuing through Saturday, May 15, 2021. The CMS reports that at least 13 states plus the District of Columbia, which operate their own Marketplace platforms, have decided to offer a similar opportunity.
The CMS intends to release data on consumer activities during the SEP for each month as consumers apply and enroll in coverage. The first report is anticipated in early March, which will cover consumers who applied and enrolled through the SEP in February and have coverage starting March 1. The CMS intends to release a report for each month (February, March, and April) shortly after the month ends and then a final report after May 15 covering the full period.
The news release is available here.
The CMS “2021 Special Enrollment Period in Response to the COVID-19 Emergency” Fact Sheet is available here.
The Executive Order on “Strengthening Medicaid and the Affordable Care Act” is available here.
Additional information on the Marketplace enrollment is available here.
Retirement
DOL Confirms Investment Advice Exemption Effective as Scheduled
On February 12, 2021, the Department of Labor (DOL) confirmed that “Improving Investment Advice for Worker & Retirees,” an exemption for investment advice fiduciaries, would go into effect as scheduled (as of February 16, 2021). The DOL also announced that it will publish related guidance for retirement investors, employee benefit plans, and investment advice providers in the “coming days.” The temporary enforcement policy stated in Field Assistance Bulletin 2018-02 will remain in place until December 20, 2021.
The news release is available here.
Field Assistance Bulletin 2018-02 is available here.