Department of Health and Human Services accepting applications for companies to apply for early retiree reinsurance
Blue Cross Blue Shield of Michigan and Blue Care Network to assist employers in applying for early retiree reinsurance
June 29, 2010
The Department of Health and Human Services (HHS) announced today it is accepting applications for early retiree reinsurance funds made available by the Patient Protection and Affordable Care Act.
Blue Cross Blue Shield of Michigan and Blue Care Network are well prepared to assist group customers in managing the early retiree reinsurance application and funds recovery process.
The reform law enables employers that offer health coverage for early retirees between the ages of 55 and 64 to apply for reimbursement of 80 percent of early retiree costs between $15,000 and $90,000. The funds will be dispersed to qualified employers on a first-come, first-served basis. There are $5 billion available for early retiree reinsurance.
Group customers and agents representing group customers that offer early retiree health coverage are encouraged to contact their Blue Cross Blue Shield of Michigan or Blue Care Network sales representative for more information about the early retiree reinsurance process, timelines and applicable fees.
The information on this website is based on BCBSM's review of the national health care reform legislation and is not intended to impart legal advice. Interpretations of the reform legislation vary, and efforts will be made to present and update accurate information. This overview is intended as an educational tool only and does not replace a more rigorous review of the law's applicability to individual circumstances and attendant legal counsel and should not be relied upon as legal or compliance advice. Analysis is ongoing and additional guidance is also anticipated from the Department of Health and Human Services. Additionally, some reform regulations may differ for particular members enrolled in certain programs such as the Federal Employee Program, and those members are encouraged to consult with their benefit administrators for specific details.