Under the Affordable Care Act, employers that sponsor certain self-insured group health plans are subject to the Transitional Reinsurance Program. (For a detailed overview,all clients are encouraged to log-in to the CBGconnect portal and download our Compliance Bulletin.)
The information below highlights two key steps that your company may need to take regarding the upcoming November 15th, 2016 deadline.
2016 Benefit Year: If You Had a Self-Funded Medical Plan
If you had a self-funded medical plan in 2016, you must submit your 2016 Annual Enrollment Contributions Submission Form and schedule payment for the 2016 benefit year no later than November 15, 2016. Contributing entities must:
- Register on Pay.gov (unless you’ve registered for the previous benefit years of the program)
- Submit annual enrollment counts of the number of covered lives of reinsurance contribution enrollees for the 2016 benefit year using the 2016 form
2015 Benefit Year: If You Had a Self-Funded Medical Plan
As a reminder, the second contribution for the 2015 benefit year (of $11.00 per covered life) is also due no later than November 15, 2016, for contributing entities that opted not to pay the entire 2015 benefit year contribution in one payment.
We hope that you find this reminder helpful. If you have any additional questions, please contact our team at 781-759-1222.