Affordable Care Act Relief for Businesses etc. who offer Health Insurance to Early Retirees

http://www.hhs.gov/news/press/2010pres/06/20100629a.html

Department of Health and Human Services’
Tuesday, June 29, 2010

Applications for Early Retiree Reinsurance Program Now Being Accepted

Affordable Care Act to Provide Financial Relief for Businesses, Unions, State and Local Governments Who Provide Health Insurance for Early Retirees

The Department of Health and Human Services’ Office of Consumer Information and Insurance Oversight (OCIIO) today announced that it will begin accepting applications for the Early Retiree Reinsurance Program (ERRP). Created by the Affordable Care Act as a bridge to the new health insurance marketplace established by the Exchanges in 2014, this $5 billion program will provide much needed financial assistance for employers, including businesses, unions, state and local governments, and nonprofits, so retirees can get quality, affordable insurance.

“The Affordable Care Act not only helps consumers cut their health care costs and have more access to quality care, it also is designed to help employers afford coverage. The Early Retiree Reinsurance Program will help employers continue to provide much-needed health insurance to their retirees,” said Secretary Kathleen Sebelius. “Today, Americans who have retired but are not yet eligible for Medicare are often unable to find coverage that is affordable and meets their health needs on the individual market. This program will help both retirees and employers facing spiraling health care costs, and ensure more Americans have access to the health care they need.”

.....The Early Retiree Reinsurance Program will reimburse employers for medical claims for retirees age 55 and older who are not eligible for Medicare, and their spouses, surviving spouses, and dependents. Employers, including state and local governments and unions, who provide health coverage for early retirees are eligible to apply......

Applications for the program, as well as fact sheets and application assistance can be found at: www.hhs.gov/ociio

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More at link..

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