Early Retiree Reinsurance Program
The Affordable Care Act (ACA) has created a temporary reinsurance program for employers providing health insurance to retirees who are older than 55 but ineligible for Medicare. The program’s limited $5 billion fund will be used to reimburse employers who offer coverage to retirees and their eligible dependents.
Employers who are enrolled in the program will be reimbursed 80 percent of the per-member claims’ cost between $15,000 and $90,000 incurred during a plan year. To qualify for this reimbursement, eligible employers must apply to the Secretary of Health and Human Services (HHS).
For questions regarding the application process, please contact your SelectHealth Sales representative.