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CMS Cancels 315,000 Obamacare Plans, Affects 760,000

By Drooid · · How we work

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Billion Dollar Recoup
  • Centers for Medicare & Medicaid Services announced Tuesday it cancelled 315,000 Obamacare plans, affecting about 760,000 people due to unverified citizenship or immigration documents.
  • The administration used emergency rulemaking to freeze registrations of 569 brokers whose 2026 applications lacked Social Security numbers and appeared implausible.
  • CMS projects the cancellations will recoup $2.2 billion in premium subsidies.
  • After the announcement, insurer shares fell, with Centene down 3% and Oscar Health down 5%.
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