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March 15, 2013 – Cypress Benefit Administrators
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We enjoy bringing you information and reminders to help you stay abreast of new Cypress developments and industry compliance requirements. Please let us know how Cypress Solution eNews can be of further service to you.
topIn This Issue:
methodAgencies Issue Final Rule on Payment Parameters for Self-Insured Plans Under the Transitional Reinsurance Program  
The Department of Health and Human Services (HHS) last week released its Final Rule on the payment methodology for self-insured group health plans to comply with the requirement that they make contributions to the transitional reinsurance program created under the Patient Protection and Affordable Care Act (PPACA). Fees will be collected in calendar years 2014, 2015 and 2016. Learn more details about entities required (and excluded from) the ruling, contribution rates, required submission of enrollment counts, how payments are to be made and more<back to top>
appricesupFrom Associated Press, as published at Yahoo Finance:
Insurers Warn of Overhaul-Induced Sticker Shock
Insurers Warn of Sticker Shock Due to Health Care Law's New Taxes, Requirements as it Expands     
The nation's big health insurers say they expect premiums – or the cost for insurance coverage – to rise from 20 to 100 percent for millions of people due to changes that will occur when key provisions of the Affordable Care Act roll out in January 2014. While across-the-board rate hikes are not expected, and there's no reliable national data on how many people could see increases, the biggest hikes are expected to hit those not coverage through a big employer group.
The price increases are a downside of President Barack Obama's health care law, which is expected to expand coverage to nearly 30 million uninsured people. The Obama administration says the law balances added costs in several ways, including tax credits that will bring down what many consumers will pay for insurance. "It's misleading to look at one provision of the law alone. Taken together, the law will reduce costs," shared a spokeswoman for the Department of Health and Human Services. Read the full article.  <back to top>
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Cypress Benefit Administrators