CMS also intends to cut drug spending by letting individual, small group and large group insurers to change prescription drug formularies in midyear to encourage members to use lower-cost generics.

Proposed rule changes advanced by the Trump administration would cause a premium increase of approximately 1 percent for purchasers of health insurance under the Affordable Care Act.

According to an Associated Press report, the Centers for Medicare and Medicaid Services said the reason for the change was “to more accurately calculate premium subsidies under the law” and to improve the accuracy of the complex formula that affects premium levels for consumers.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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