Congresswoman Matsui Praises Early Retiree Reinsurance Program

FOR IMMEDIATE RELEASE
Tuesday, June 29, 2010

CONTACT: MARA LEE
(202) 225-7163

Today, Congresswoman Matsui applauded the announcement by the Department of Health and Human Services that it has begun accepting applications for the Early Retiree Reinsurance Program (ERRP). The ERRP, part of the the historic health insurance reform bill passed by Congress in March and supported by Congresswoman Matsui, is a $5 billion program that will provide needed financial assistance to employers across America that provide health coverage to employees who retire before becoming eligible for Medicare. This new program will ensure that retirees have access to quality health coverage before health insurance exchanges are established in 2014. and#xF3;and#xC8;

As programs within the Affordable Care Act go into effect, the bill's benefits for both small businesses and seniors are becoming clear, said Congresswoman Matsui. The Early Retiree Reinsurance Program will be a great source of support to those businesses who have taken on the responsibility of providing insurance to retirees who do not qualify for Medicare. The ERRP will also enable more businesses to provide such assistance to their retirees.

Continued Rep. Matsui, This critical program will ensure that increasing numbers of retired workers between the ages of 55 and 64 do not have to spend their days agonizing over medical bills or pouring their savings into expensive policies in the individual market. I applaud the Health and Human Services Department for implementing this critical program on schedule, and hope to see a great number of Sacramento businesses take advantage of this new source of federal support.and#xEE;and#xE4;and#xF3;and#xC8; and#xF3;and#xC8;

The Early Retiree Reinsurance Program will help employers pay 80 percent of the medical costs of those retirees who have exceedingly high health bills due to chronic conditions. Employers participating in the program will be able to submit for reimbursement medical care claims dating back to June 1, 2010. and#xF3;and#xC8; and#xF3;and#xC8;

Applications and additional information are now available online at www.hhs.gov/ociio; additional information on the program is available at http://www.hhs.gov/ociio/regulations/index.html#early_retiree. A fact sheet on the program is available here, a set of frequently asked questions is available here, and a do's and don ts document for employers wishing to apply to the program is available here.