Attention Self Funds! Transitional Reinsurance Fee reporting due NOVEMBER 15th!

attentionwordDue to the fact that self fund programs and ASO platforms are outside of the Fully Insured ACA plans, there are certain requirement and fees that the employer is responsible for directly.

The next requirement is the Transitional Reinsurance Fee reporting. You are required to report the number of members under your health plan by November 15th. Those of you that had an ASO product since they came out may remember filing an IRS form, but last year the program moved online and you would have registered your employer group on the pay.gov website. The good news on this program is it’s set to expire in 2017! Unless there is governmental action otherwise, the fee will go away next year!

Anyone that is new to the ASO product and enrolled into this program on December 1st 2015 or January 1st 2016, you will have to register to set up an account.

Instructions to guide you can be found HERE

Those of you enrolled with the Capital ASO product can expect a report to be mailed out by the end of October with your”head count” so you don’t have to go through the counting methodology to figure out your number. Once you register and file your “head count” the actual fee is not due until January 15th. It can broker down into 2 payments if necessary.

If you have previously registered, the process is pretty seamless. If you are new to registering, you may find the first few questions confusing because they are geared mainly to governmental agencies. Although we cannot legally offer accounting advise, if you’d like to schedule a conference call when you are enrolling, we can give you our opinion on how to classify your business and register your business.

As always, we appreciate your business and this opportunity to serve you.

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