Posts Tagged: ERRP

ERRP Budget Update

in Affordable Care Act, Retiree Benefits

HHS recently released its fiscal year 2012 budget, which includes projected outlays for the early retiree reimbursement program. As of January 2011, approximately 5,000 plan sponsors have been accepted into the program, and approximately $1 Billion has been distributed to plan sponsors. By the end of fiscal year 2011 (which ends September 30, 2011), HHS projects that it will pay out another $2.6 Billion. This would bring the total distributed to $3.6 Billion by September 30, 2011, leaving only $1.4 Billion to be distributed in fiscal year 2012 (which begins on October 1, 2011). When the Affordable Care Act established… Continue Reading

ERRP Spent $1 Billion in 2010

in Affordable Care Act, Retiree Benefits

Congress appropriated funding of $5 billion for the early retiree reinsurance program.  The program ends when the funds are exhausted or January 1, 2014, whichever is earlier.  HHS announced this week that approximately $1 Billion has been reimbursed through the end of 2010, leaving $4 Billion for the ERRP for 2011 and future periods.

ERRP Reporting Now Live

in Affordable Care Act

I have spent the last few days speaking at the JCEB National Health and Welfare Institute here in DC and have unfortunately not been keeping up with recent events.  One such recent event is that there is much happening with the ERRP right now.  Currently, the cost reporting and reimbursement request features are now live for plan sponsors with approved applications.  If you are waiting for your application to be approved, you should review the requirements so that you are ready to submit once the approval comes through.  Click here for additional information: http://www.errp.gov/news_events.shtml

ERRP Plan Participant Notice

in Affordable Care Act

The requirement to distribute ERRP notices to plan participants have caught some plan sponsors by surprise.  In general, if you will be receiving ERRP funds, you must distribute a required model notice to plan participants.  The notice must be sent no later than when you begin to receive the ERRP funds.  However, plan sponsors can distribute the notice earlier, and many are planning to distribute the notices with their annual enrollment materials for 2011.  For a copy of the model notice, see the following link: http://www.errp.gov/download/Notice_to_Plan_Participants.pdf

ERRP Approvals Released Today

in Affordable Care Act

Today, the HHS Office of Consumer Information and Insurance Oversight stated that it has approved nearly 2,000 plans representing a broad range of employers from all 50 States and the District of Columbia into the Early Retiree Reinsurance Program in this first round of approvals with more applications being reviewed every day.  Starting in September, approved applicants can begin submitting claims dating back to June 1, 2010 and, starting in October, approved applicants will begin to receive reinsurance payments on those claims.  (Approved applicants should also receive a personalized email.) HHS stated that the approved applications represent nearly every sector of… Continue Reading