Early Retiree Reinsurance Program Begins Receiving Applications Today

Today, employers can begin submitting applications for the Early Retiree Reinsurance Program. Created by the Affordable Care Act, this program provides $5 billion in financial assistance to employers, unions and state and local governments to help them maintain coverage for early retirees age 55 and older who are not yet eligible for Medicare. The program will reimburse up to 80% of claims incurred between $15,000 and $90,000 for each eligible member. The reimbursement is on a first come / first serve basis and once the $5 billion is depleted the program will end. If funds are not depleted on January 1, 2014 the program will end at that time.

To view the press release click here: http://www.hhs.gov/news/press/2010pres/06/20100629a.html

To view the fact sheet click here: http://www.healthreform.gov/newsroom/early_retiree_reinsurance_program.html

To view FAQ's, download the application and for additional information click here: http://www.hhs.gov/ociio/regulations/index.html#early_retiree