Federal officials are still developing the process health insurers and benefit plan administrators will use to “make contributions” to a new Patient Protection and Affordable Care Act reinsurance program.
The Center for Consumer Information & Insurance Oversight talks about the PPACA reinsurance program payment process in a new fact sheet.
CCIIO – the arm of the U.S. Department of Health and Human Services in charge of carrying out PPACA provisions that affect commercial health insurance – said in the fact sheet that it will post a PPACA reinsurance program payment form at Pay.gov, a federal government payment website.
CCIIO should be ready to train plans to use the system in late June, and payment information will be due Nov. 15, CCIIO said.
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PPACA now requires health insurers to sell individual coverage on a guaranteed-issue basis. The only personal health information insurers can use when setting individual rates is age.