Early Retirement Reinsurance Program Compliance Alert
June 25, 2010
Don’t be weighed down by high dollar early retiree healthcare claims. Meritain Health can help.
Today's economic climate has most employers tightening their budgets. Employers who cover retiree benefits are in the difficult situation of providing for the healthcare needs of an aging population.
The federal government recognizes many employers’ need for financial assistance as a growing number of American workers move towards retirement. As part of the new Patient Protection and Affordable Care Act (PPACA), funding is available for employers offering retiree coverage (those age 55-64 who are not Medicare eligible) to help shoulder the costly burden associated with high dollar healthcare claims. By taking advantage of this program, employers can be reimbursed up to 80% of the amount of healthcare claims between $15,000 to $90,000 per qualified retired employee and their dependents.
Participation in the Early Retiree Reinsurance Program is easy through a partnership with Meritain Health, where we will:
- Work with employers to prepare a draft application for program eligibility.
- Track early retirees who meet the criteria for reimbursement.
- Submit claims on behalf of the employer for reimbursement and track the reimbursement until it is received.
High dollar claims can be a threat to financial stability, but they don't have to be. Contact your Client Relationship Manager or Meritain Health representative today to learn more about this new program.