“HHS OKs First 2,000 Recipients in $5 Billion Early-Retiree Health Insurance Program”
Best’s Insurance News, September 1, 2010
Joel Michaels spoke about the federal government’s approval of the first round of applicants for the Early Retiree Reinsurance Program, which covers health insurance for retirees between 55 and 65. Mr. Michaels pointed out that the program is “first come, first served,” adding, “If you haven’t gotten in line in time, you’ll be out of luck” to receive funding coverage. He also noted that insurers have been permitted to submit claims on behalf of participating plan sponsors, which will also drain funding.