The Affordable Care Act’s transitional reinsurance program aims to stabilize the individual health insurance market as insurers provide coverage, starting in 2014, to large numbers of individuals who don’t currently have coverage and present uncertain risks. The program will provide reinsurance payments to insurers that take on high-risk individuals and will be funded through a three-year tax on employer-sponsored group health plans. And while the first major compliance deadline for the program is still more than a year away, employers should be thinking about it now, says Garrett Fenton, counsel with Miller & Chevalier.
“It really is just an involved, complex process, more complex than I think a lot of employers may be giving credit to at this point,” he says.
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