Monday, May 24, 2010

Early retiree reinsurance program application not yet available

Although the Early Retiree Reinsurance Program will go into effect on claims incurred after June 1, applications are not expected to be made available from Health and Human Services (HHS) until mid- to late June. While details on the application process have not been released, HHS has confirmed that it expects more requests for reimbursements than the allocated $5 billion in funding can cover.

The Department has also confirmed that there will be a period of time between when the application is released and when they will begin accepting claims data submissions. As payments will be processed in the order claims are received, it is imperative that plan sponsors be prepared to respond quickly and thoroughly if they plan to participate in this program.

HHS released an interim final rule on the program in the beginning of May providing guidance on eligibility requirements. For more information, click to access the Early Retiree Reinsurance Program Interim Final Rule.

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