TIPS FOR AVOIDING ERRORS WHEN FILING REINSURANCE FORM

Tips for Avoiding Errors When Filing Reinsurance Form

Before filing the 2015 ACA Transitional Reinsurance Program Annual Enrollment and Contributions Submission Form, employers may want to consider the following tips from the Centers of Medicare and Medicaid Services to avoid errors:

• If filing a two-part collection, remember to file and schedule both the first collection and the second collection.
• Use accurate banking information.
• Ask your bank to remove the ACH debit block (7505008015) from the account.
• Confirm that the annual enrollment count entered in the form accurately reflects the reinsurance covered lives in your plan using an approved counting method.
• If applicable, confirm the aggregated enrollment count included in the supporting documentation matches the aggregated annual enrollment count entered in the form.
• If applicable, be certain that the supporting documentation being uploaded to Pay.gov is in the correct (.CVS) format and layout.

Whether an employer is paying the Reinsurance Assessment Fee in one or two installments, the employer must submit the form and schedule payment no later than Nov. 16, 2015 (as Nov. 15 is a Sunday). The first installment deadline is Jan. 15, 2016, and the second installment deadline is Nov. 15, 2016. Plan sponsors can also pay the fee in full by the deadline of the first installment.

To learn about the differences between resubmitting the form and re-filing the form, follow this link.
To learn how to fix common errors when filing the form, follow this link.
For more information on the Reinsurance Assessment Fee, follow this link.

Source: “Module 4 - 2015 Reinsurance Contributions: Updating Contributions Filings” presentation from CMS