November 12, 2015
The Affordable Care Act (ACA) created a three-year transitional reinsurance program that reimburses certain health insurers in the individual market for losses they sustain when they enroll individuals who are higher-cost claimants. Health insurers and self-insured group health plans must contribute to this program by paying fees over a three-year period. 2014 was the first year for which these fees were assessed. The submission required for the second year’s fees must be filed by November 16, 2015. (In a major change from last year, self-administered plans that are self-insured are exempt from the fees.) For details, please refer to Sibson Consulting’s October 7, 2015 Update.
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