Smart Benefits: Transitional Reinsurance Enrollment Count Deadline Extended to Dec. 5

Smart Benefits: Transitional Reinsurance Enrollment Count Deadline Extended to Dec. 5

The deadline for health insurance issuers and certain self-insured group health plans offering major medical coverage to submit their 2014 enrollment counts for the transitional reinsurance (TRF) program contributions has been extended to December 5, 2014.  The January 15, 2015, and November 15, 2015, payment deadlines remain the same.

The transition reinsurance program was established under the Affordable Care Act to stabilize premiums in the individual market inside and outside of the exchanges. The program collects contributions from contributing entities in 2014, 2015, and 2016 to fund reinsurance payments to issuers of non-grandfathered reinsurance-eligible individual market plans, the administrative costs of operating the reinsurance program, and the General Fund of the U.S. Treasury

The annual fee is $63.00 per covered life for 2014 and $44.00 per covered life for 2015. The methods to count lives are similar to those used to count lives for the Patient Centered Outcomes Research Institute (PCORI) fee. However, the transitional reinsurance fee program fee is calculated on a calendar year basis, and lives are only counted for the first nine months of the year.

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To enter their enrollment count, contributing entities visit Pay.gov and access the “ACA Transitional Reinsurance Program Annual Enrollment and Contributions Submission Form.” The form will calculate the annual contribution amount to be remitted based on the annual enrollment count.

Contributing entities can either pay: (1) the entire 2014 benefit year contribution in one payment no later than January 15, 2015 reflecting $63.00 per covered life; or (2) in two separate payments for the 2014 benefit year, with the first remittance due by January 15, 2015, reflecting $52.50 per covered life, and the second remittance due by November 15, 2015, reflecting $10.50 per covered life.  

Upcoming TRF Deadlines:

 

 

 

 

 

 

 

 

 

 

Amy Gallagher has over 21 years of healthcare industry experience guiding employers and employees. As Vice President at Cornerstone Group, she advises large employers on all aspects of healthcare reform, benefit solutions, cost-containment strategies and results-driven wellness programs. Amy speaks regularly on a variety of healthcare-related topics, and is often quoted by national publications on the subject matter. Locally, Amy is a member of SHRM-RI, the Rhode Island Business Group on Health, and the Rhode Island Business Healthcare Advisory Council.