CMS Extends Deadline for Reporting 2014 Enrollment Counts for Transitional Reinsurance Contributions
The Patient Protection and Affordable Care Act (PPACA) imposes transitional reinsurance fees on both health plan insurers and self-insured group health plans for the 2014, 2015 and 2016 calendar years. Health insurers and self-insured group health plans are assessed a per enrollee fee to finance a reinsurance fund intended to stabilize premiums in the individual market. In order for the Centers for Medicare and Medicaid Services (CMS) to determine the total fee to assess each plan sponsor, employers were required to submit certain plan enrollment information to CMS by November 15, 2014. CMS announced late on November 14, 2014, that it was extending the deadline for submitting 2014 enrollment counts related to the transitional reinsurance fees until 11:59 p.m. on December 5, 2014
. The extended deadline for submitting enrollment information does not
affect the deadlines by which an employer must pay its transitional reinsurance fee assessment, which remain January 15, 2015 for the first payment and November 15, 2015 for the second payment.
If you have any questions or would like additional information about the transitional reinsurance program or contributions, please contact any member of the Ice Miller's Employee Benefits Group
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.