![]() and in Arkansas – for operating an illegal insurance scheme and misappropriating member funds. Massachusetts’ reporting requirements were prompted by an uptick in HCSM participation and complaints against Aliera – a company marketing HCSM plans across the U.S. A resident who obtains coverage through an HCSM is deemed to meet the MCC standards only if the HCSM complies with the state’s reporting requirements. Massachusetts law requires state residents to have health insurance that meets the state’s minimum creditable coverage (MCC) standards or potentially face a penalty. Note: The Affordable Care Act requires insurers to pay at least 80% of premiums toward member medical bills. ![]() ![]() ![]() Healthcare costs paid for through HCSMs as a percentage of member contributions ranged from 16% to 79% in 2020 and 28% to 100% in 2021.On average, members paid their HCSMs about 1.8 times the amount the HCSMs paid out for members’ health care bills in 2020 and 1.4 times in 2021. ![]()
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