HHS Launches Early Retiree Reinsurance Program
On June 29, 2010, the HHS Office of Consumer Information and Insurance Oversight (OCIIO) announced that it is now accepting applications for the Early Retiree Reinsurance Program (EERP), a $5 billion program established by the Affordable Care Act. The EERP will reimburse participating employment-based plans for a portion of the cost of health benefits for retirees age 55 and older who are not eligible for Medicare and their spouses, surviving spouses, and dependents. The EERP will reimburse sponsors for certain Medicaid claim costs between $15,000 and $90,000 (indexed for plan years starting on or after October 1, 2011). This temporary program became effective June 1, 2010 and will end no later than January 1, 2014.
