What you need to know
Clear Spring Health Insurance Company prescription drug plan has been sanctioned by the Centers for Medicare and Medicaid Services (CMS), freezing enrollments. The plan will be terminated on December 31, 2024.
This means no one can be enrolled into Clear Spring, but anyone currently on the plan can keep it for 2024. After 2024 however, the plan will terminate. In addition, as a low performing plan, enrollees will have a CMS directed SEP to get out of this plan.
Clear Spring can no longer market the prescription drug plan, so expect to see a lot of Medicare Advantage (MA) marketing being sent to members in their limited MA markets.
Source: https://www.cms.gov/files/document/clear-spring-termination-sanction-10132023.pdf