The Centers for Medicare and Medicaid Services (CMS) has announced the availability of $40 million to support States’ review of health insurance rates. The Affordable Care Act (ACA) included provisions designed to promote accountability, affordability, quality, and accessibility in the health care system — including establishing a process whereby the Federal government and/or states annually review health insurers premium rates to in order to protect consumers from unreasonable increases. This opportunity represents Cycle IV of the Rate Review Grant Program that supports these provisions of the law. A map of states that have received awards in prior cycles can be found here.

CMS is poised to award grants to all States, the District of Columbia, and the five U.S. Territories. Awards will be to $5 million each depending on the number of states/territories that apply. Mandatory letters of intent are due by June 13, 2014, and applications are due by July 21, 2014.