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Feds Moving Quickly to Meet Deadlines for New $5B Health Program

  • Thursday, May 06, 2010 11:19
    Message # 336726
    Feds Moving Quickly to Meet Deadlines for New $5B Health Program

    The Health & Human Services Dept. seeks insights on the proposed interim
    final rule for the $5 billion Early Retiree Reinsurance Program,
    established by the Patient Protection and Affordable Care Act (PL 111-148).

    (Comment Deadline: June 4). See information links below.

    Under the law, HHS must establish this temporary program by June 21 and it
    must end no later than Jan. 1, 2014.

    The program will provide reimbursement to participating employment-based
    plans for a portion of the cost of health benefits for early retirees and
    their spouses, surviving spouses and dependents.

    The secretary will reimburse plans for certain claims between $15,000 and
    $90,000 (with those amounts being indexed for plan years starting on or
    after Oct. 1, 2011). The purpose of the reimbursement is to make health
    benefits more affordable for plan participants and sponsors so that health
    benefits are accessible to more Americans than they would otherwise be
    without this program.

    Insider's Tip: The White House and HHS are chiming in on the benefits of
    the program, offering fact sheets and other helpful information.

    Info: For the White House fact sheet, please visit
    http://www.whitehouse.gov/the-press-office/fact-sheet-early-retiree-
    reinsurance-program; for the HHS press release on the new program, please
    visit http://www.hhs.gov/news/press/2010pres/05/20100504c.html.

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