Day: October 26, 2010
Required Reading for Today – Homework Due Tomorrow
Could Overhaul Undermine Employer Health Coverage ? http://www.msnbc.msn.com/id/39821422/ns/health-health_care
Big Insurance, Big Medicine http://online.wsj.com/article/SB10001424052748704300604575554293656982422.html?mod=WSJ_Opinion_LEADTop
Early Retirement Reimbursement Plan
Washington–The U.S. Department of Health and Human Services has released information on their website which contains the application employers must use to apply for reimbursement of claims incurred by enrollees in early retiree health care plans. The government will reimburse employers for a portion of health care claims incurred by retirees who are at least age 55 but not eligible for Medicare as well as by retirees’ covered dependents regardless of age. The Early Retiree Reimbursement Program, or ERRP, requires that participants in an early retiree plans incur a minimum of $15,000 in health care claims in a plan year and the government will reimburse the plan sponsor for 80% of claims up to $90,000. The reimbursement only applies to claims incurred June 1 or later.
Applications and additional information is available at www.hhs.gov/ociio/regulations/index.html#early_retiree and at www.errp.gov.