CMS To Require ACA Insurers Accept Prepaid Debit Cards

Law360, New York (August 29, 2013, 7:29 PM EDT) -- Health insurers offering individual plans through Affordable Care Act insurance exchanges must accept prepaid debit cards alongside several other payment methods, ensuring that people without bank accounts can purchase coverage, according to a Centers for Medicare & Medicaid Services rule published Wednesday.

The final rule puts into place premium payment provisions first suggested in a June proposed rule, designed to give individuals without a bank account or a credit card — often part of the same low-income demographic also covered by ACA insurance subsidies — “readily...
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