Special Alert: Deadline Delayed to Submit ACA Reinsurance Program Enrollment Counts

Employers Subject to ACA Transitional Reinsurance Program Now Have Until December 5, 2014 to Submit Annual Enrollment Counts

balance-scaleThe U.S. Centers for Medicare & Medicaid Services (CMS) has announced that the deadline for employers sponsoring certain self-insured plans (“contributing entities”) to submit their 2014 enrollment counts for transitional reinsurance program contributions has been extended until 11:59 p.m. on December 5, 2014. (The previous deadline was November 15, 2014.)

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PPACA, Lack of Data Challenging Actuaries

sip-analyticsHow do you price a service when you have no idea what it will cost you to deliver? That’s the challenge actuaries faced as they tried to predict medical costs for the thousands of new enrollees participating in health care exchanges across the country.

Actuaries thrive on data – specifically, demographics on age, sex, location and health care history. Under Obamacare, insurers must accept all comers with no health information on enrollees. Additionally, they were asked to establish premium rates for an unknown population as participants rushed to meet the sign-up deadlines. Last minute regulatory changes provided further complication – forcing unexpected revisions to calculations that had been worked on for years in preparation for exchange deadlines.

Waiting for Claims Data

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