Affordable Care Act Page Update

The Department of Labor's Employee Benefits Security Administration is providing the following information from HHS:

 

FINAL REMINDER: Transitional Reinsurance Program Contribution Submission Deadline – December 5, 2014

 

The extended deadline for contributing entities to submit their 2014 enrollment counts for the transitional reinsurance program contributions under 45 CFR 153.405(b) is no later than 11:59 pm on December 5, 2014. Contributing entities that have not submitted their enrollments and scheduled their reinsurance contribution payments are required to do on or before the extended deadline.

 

Section 1341 of the Affordable Care Act established a transitional reinsurance program to help stabilize premiums in the individual market by partially offsetting issuers’ risk associated with high-cost enrollees. The transitional reinsurance program will collect contributions from health insurance issuers and certain self-insured group health plans offering major medical coverage for the 2014, 2015 and 2016 benefit years. Contributing entities, or third party administrators or administrative services-only contractors on their behalf, could complete the reinsurance contributions submission process through the Pay.gov website starting October 24, 2014.

 

For more information regarding the reinsurance contribution submission process, please visit the FAQ and Library sections of https://www.regtap.info/ and filter by “Reinsurance-Contributions.” You may also find information at http://www.cms.gov/CCIIO/Programs-and-Initiatives/Premium-Stabilization-Programs/The-Transitional-Reinsurance-Program/Reinsurance-Contributions.html . Questions can be submitted to reinsurancecontributions@cms.hhs.gov .