HHS Releases Information Regarding Early Retiree Reinsurance Program Expenditures
Earlier this week HHS revealed that it expects to distribute about $3.6 billion in reimbursements under the Early Retiree Reinsurance Program (ERRP) to employers and other sponsors of retiree medical plans during fiscal 2011. (The federal fiscal year runs from October 1 through September 30.) The remaining funds, approximately $1.4 billion, would be distributed during fiscal 2012, according to HHS budget documents. HHS also reports that as of January 25, 2011, over 5,000 plan sponsors have been approved and nearly $1 billion in funding has been provided to participating plan sponsors.
As expected, the ERRP has become a popular program, and to ensure recepit of the maximum eligible reimbursement participating plan sponsors should be diligent in timely submitting eligible reimbursement claims. For more information on the Early Retiree Reinsurance Program visit our earlier posts, here, here, here, and here, or visit http://errp.gov/.