CMS Announces Availability Of ACA Reinsurance Enrollment And Contributions Form

The “ACA Transitional Reinsurance Program Annual Enrollment and Contributions Submission Form” (the Form) will be available via http://www.pay.gov on October 24, 2014, in time for the 2014 benefit year’s annual enrollment count submission deadline of Nov. 15, 2014, the Department of Health and Human Services (HHS) via the Centers for Medicare & Medicaid Services (CMS) has announced.

Section 1341 of the Patient Protection and Affordable Care Act (ACA) established a transitional reinsurance program to stabilize premiums in the individual market inside and outside of the Marketplaces. The transitional reinsurance program will collect contributions from health insurance issuers and certain self-insured group health plans (contributing entities) in the 2014, 2015 and 2016 benefit years 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.

HHS has implemented a streamlined process for the collection of reinsurance contributions where a contributing entity, or a third party administrator (TPA) or administrative-services only (ASO) contractor on behalf of the contributing entity, can complete all of the required steps for the reinsurance contribution submission process on Pay.gov: registration, submission of the annual enrollment count via the Form, and remittance of contributions.

Reinsurance contribution payments are not due on Nov. 15, 2014. HHS will offer contributing entities the option to pay: (1) the entire 2014 benefit year contribution in one payment no later than Jan. 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 Jan. 15, 2015 reflecting $52.50 per covered life, and the second remittance due by Nov. 15, 2015, reflecting $10.50 per covered life.

For more information, visit http://www.cms.gov/CCIIO/Programs-and-Initiatives/Premium-Stabilization-Programs/The-Transitional-Reinsurance-Program/Downloads/Reinsurance-Contributions_Pay-gov-Form-Go-Live_10_17_14.pdf.

Visit our News Library to read more news stories.