H&W: Transitional Reinsurance Form Available
The Centers for Medicare a
nd Medicaid Services (CMS) announced that the Transitional Reinsurance Program Annual Enrollment and Contribution Form will be available on October 24, 2014. The form is available via www.pay.gov and is being provided in time for plan’s to submit their 2014 enrollment count, which is due by November 15, 2014.
As a reminder, this is a requirement for employer sponsors of self-insured major medical coverage. Insurers are responsible for reporting and fee payments related to fully insured plans.
Employers may choose one of two fee payment methods when they report their covered lives:
- One Payment:
- $63.00 per covered life due no later than January 15, 2015
- Two Payments
- $52.50 per covered life due no later than January 15, 2015
- $10.50 per covered life due no later than November 15, 2015
The Reinsurance Program Fee compliance activity (for self-insured plans) and reference material on Compliancedashboard provide additional information and reminders about this ACA requirement.
The CMS web site also has information and resources related to the Transitional Reinsurance Program.
