HOW TO PAY REINSURANCE ASSESSMENT FEE

How to Pay Reinsurance Assessment Fee

The U.S. Department of Health and Human Services (HHS) has announced a process for the collection of Reinsurance Assessment Fees through the implementation of a system called Pay.gov.

Here are the steps CoreSource clients should take to pay the Reinsurance Assessment Fee electronically in a timely manner:

1. 1. Register: Plan sponsors must register on Pay.gov.
2. 2. Complete contribution form: No later than Nov. 15 in 2014, 2015 and 2016, plan sponsors need to enter the average number of members in their health plan for the first nine months of the calendar year on a contribution form on Pay.gov. CoreSource will provide such count¹.
3. The contribution form, “ACA Transitional Reinsurance Program Annual Enrollment and Contributions Submission Form,” is expected to be available later this fall. The form requires information for a billing contact and billing address, as well as the name and contact information for plan sponsor contacts. The form will automatically calculate the contribution amount(s).
4. 3. Upload: Plan sponsors must upload supporting documentation.
5. 4. Enter payment information: Plan sponsors should schedule a payment date by selecting “Type of Payment” based on plan sponsors’ preference on when to make the contribution. The first installment² deadline is Jan. 15, 2015, and the second installment³ deadline is Nov. 15, 2015. Plan sponsors can also pay the fee in full by the deadline of the first installment.
6. The Centers for Medicare and Medicaid Services is asking that payment dates be at least 30 days after submission of the count to allow for submission count corrections, if necessary. On the Payment Page, plan sponsors will select the payment date, enter the account holder name, select type of account (checking or savings), enter the bank routing number and submit bank account number.

Note: Register for RegTap to be notified about training on healthcare reform. Webinars about the Reinsurance Assessment Fee are scheduled for Aug. 22, 2014.

For more information, follow this link.

¹CoreSource will use the snapshot count method to count the average enrollment in each client’s health plan.
²$52.50 per average covered life
³$10.50 per average covered life