Groups had to register and provide its enrollment counts for the 2016 transitional reinsurance fee, by November 15, 2016 for the 2016 collection period. The transitional reinsurance fee is assessed by the Department of Health and Human Services on employers or insurers to stabilize premiums in the individual health insurance market.
If a group decides to make a single payment, the $27 per covered employee payment, should be made by January 15, 2017. If a group decides to split its payments:
- The first payment of $21.60 per covered employee is due January 15, 2017.
- The second payment of $5.40 per covered employee is due November 15, 2017.
Independence Administrators does not provide legal or tax advice. The final determination of whether the Plan Sponsor meets the requirements of the Affordable Care Act and other relevant regulations must be made by the Plan Sponsor in consultation with their own legal counsel or tax advisor.