All required steps for the transitional reinsurance program (TRP) contribution submission process can now be completed on pay.gov as the form to register for payment of the Affordable Care Act (ACA) fee is now available. To successfully complete the TRP process, contributing entities must register on pay.gov. See our recent Update for information on contributing entities and other details regarding the TRP fee. Using pay.gov, the contributing entity will access the “ACA Transitional Reinsurance Program Annual Enrollment and Contributions Submission Form” to enter the annual enrollment count. The Form will then auto-calculate the annual contribution amount to be remitted based on the annual enrollment count and the contributing entity will then schedule payment for the calculated reinsurance contributions on the payment page. The deadline to submit the annual enrollment count via the Form for the 2014 benefit year's enrollment count is November 15, 2014.
The payments themselves are not due on November 15, 2014. Contributing entities have the option to pay: (1) the entire 2014 benefit year contribution in one payment no later than January 15, 2015, reflecting $63.00 per covered life; or (2) in two separate payments for the 2014 benefit year, with the first remittance due by January 15, 2015 reflecting $52.50 per covered life, and the second remittance due by November 15, 2015, reflecting $10.50 per covered life. See the TRP Fact Sheet for more information and this TRP Announcement for upcoming educational opportunities related to the reinsurance program.
Should you have questions about this or any aspect of healthcare reform, contact your Conner Strong & Buckelew account representative toll free at 1-877-861-3220. For a complete list of Legislative Updates issued by Conner Strong & Buckelew, visit our online Resource Center.