November 7, 2016- Compliance Observer Alert- 2016 Reinsurance Fees are Due

Compl Obs Header Alert_2016

November 7, 2016

2016 REINSURANCE FEES ARE DUE

The deadline to submit your 2016 annual enrollment counts and schedule your 2016 reinsurance payment(s) is November 15, 2016.  This marks the third and final year to pay the reinsurance fees.

Sponsors of self-insured group health plans are responsible for paying the reinsurance fees.

If you are the sponsor of a fully insured group health plan, the issuer of your policy will pay these fees, however they will likely shift these costs to you through premiums.

NEW for this year!

  • A Unique Billing Contact and Contact for Submission information is required on the 2016 ACA Transitional Reinsurance Program Annual Enrollment and Contributions Submission Form (2016 Form)
  • The questions on the 2016 Form have been reworded as follows:
    • Are you reporting for three (3) or fewer Contributing Entities using this Form?
    • If yes, are you both the Reporting Entity and Contributing Entity for this Form submission?
  • 2016 Uniform Contribution Rate is $27.00 per covered life
  • ACH Debit Block Number for the 2016 Benefit Year
    • The RI contribution ALC+2 number is 7505008016
    • The Company Name is USDEPTHHSCMS

 

Second Contribution for 2015 is also due by November 15th

November 15, 2016 is also the deadline for those contributing entities that chose to pay their 2015 fees in two payments to make their second remittance (of $11.00 per covered life). This remittance would have been scheduled when you submitted your 2015 enrollment counts in November of last year. Now is the time to ensure that you have sufficient funds in your account to make this payment and that the Automated Clearing House (ACH) debit for the payment will not be blocked by your bank.

 

Additional Information and Resources

The Centers for Medicare & Medicaid Services (CMS) has provided important information related to the 2016 program provisions, available HERE.  This site also provides important resources, including a link to their web-based training program, which is readily available to walk users through the entire process.

Additional Resource: 2016 Reinsurance Contributions Review & Discussion

Please contact your AssuredPartners Benefits Team if you have questions or need assistance with this topic or other compliance matters

Information contained herein is for educational and/or informational purposes only.   The information provided may change over time as the laws and regulations change. This information is not, nor is it intended to be, legal advice and each employer or client should seek their own legal counsel for guidance regarding individual situations.

Share This:
Facebooktwittergoogle_pluspinterestlinkedinmail