HHS Extends November 17 Deadline to Submit Covered Lives Data under Reinsurance Program
The Health Care Reform Act created the transitional reinsurance program, which requires most self-insured health plans to make contributions to HHS for the 2014, 2015, and 2016 calendar years, in an attempt to stabilize premiums in the individual market. The contribution amount is determined by the number of covered lives under each plan. For 2014, the contribution amount is $63 per covered life. The number of covered lives must be calculated and submitted to HHS by November 15 of each year. The first filing was due November 17, 2014 for the 2014 calendar year (November 15, 2014 was a Saturday).
HHS has extended this November 17, 2014 deadline until December 5, 2014. According to the HHS transitional reinsurance program website, the January 15, 2015 and November 15, 2015 payment deadlines remain the same.
For more information on reinsurance fees, please see our October 10, 2014 SW Benefits Update, “Reinsurance Program Requires Self-Insured Health Plans to File Enrollment Data by November 15 and Pay Fee Later.”