The Centers for Medicare and Medicaid Services announced that contributing entities now have until 11:59 pm on December 5, 2014 to submit 2014 enrollment counts for transitional reinsurance program contributions.
Health care reform created a temporary reinsurance program intended to help stabilize insurance premiums for high-risk individuals. Insurance companies and self-funded health plans must contribute to the program for each individual who is covered by their plan in 2014, 2015 and 2016. The amount of the fee is $63 (or $5.25 per month) per covered life in 2014. Covered lives are determined based on January 2014 through September 2014 data, even for non-calendar year plans.
Contributing entities submit information and payment to the government through www.pay.gov. The CMS extended the November 15 filing deadline, and plans now have extra time to count lives for reporting purposes.
