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May 31 2012 Bulletin on the Transitional Reinsurance Program Proposed Payment Operations by the Department of Health and Human Services Table of Contents Background. Comments received on the contents of this bulletin will be used to inform future guidance. Section 1341 of the Affordable Care Act provides that a transitional reinsurance program be established in each State to help stabilize premiums for coverage in the individual market during the...
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What is transitional reinsurance program amount?
The transitional reinsurance program amount refers to the sum of money collected from contributing entities to fund reinsurance payments to issuers of non-grandfathered reinsurance coverage. This program was designed to stabilize premiums in the individual market during the initial years of the Affordable Care Act.
Who is required to file transitional reinsurance program amount?
Contributing entities, including self-insured group health plans, must file the transitional reinsurance program amount. These entities are responsible for reporting and remitting the required contributions under the program.
How to fill out transitional reinsurance program amount?
To fill out the transitional reinsurance program amount, contributing entities need to follow the guidelines specified by the Centers for Medicare & Medicaid Services (CMS). They are required to submit the necessary forms and report the applicable contribution amount based on the specified instructions.
What is the purpose of transitional reinsurance program amount?
The purpose of the transitional reinsurance program amount is to provide financial support to insurers in the individual market during the initial years of the Affordable Care Act. This program aims to stabilize premiums and protect against high-cost individuals by redistributing funds from contributing entities.
What information must be reported on transitional reinsurance program amount?
Contributing entities must report various information on the transitional reinsurance program amount, including the number of covered lives, the applicable reinsurance contribution rate, and the total contribution amount. Additional details and instructions can be obtained from the CMS guidelines.
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