The second transitional reinsurance contribution payment for the 2016 benefit year is due November 15, 2017 for issuers and certain self-insured group health plans (referred to as “contributing entities”) that did not previously pay the entire 2016 benefit year contribution in one payment. The contributions are part of the three-year Transitional Reinsurance Program established by the Affordable Care Act, which began in 2014 and ended with the 2016 benefit year.
The Transitional Reinsurance Program required contributing entities to make contributions to support payments to individual market issuers that cover high-cost individuals. For the 2016 benefit year, contributing entities were given the option to either:
- Pay the entire 2016 benefit year contribution in one payment (no later than January 17, 2017 reflecting $27.00 per covered life); or
- Make two separate payments, with the first remittance due by January 17, 2017 reflecting $21.60 per covered life, and the second remittance due by November 15, 2017 reflecting $5.40 per covered life.
Click here for more on the Transitional Reinsurance Program.