Early Retiree Reinsurance Program
Explanation
As part of health care reform, the federal government has created a temporary Early Retiree Reinsurance Program (ERRP) for certified employment-based plans. The purpose of ERRP is to encourage plan sponsors to continue to offer health insurance to early retirees. An “early retiree” is defined as a subscriber who is age 55 or older and not yet eligible for Medicare, or the spouse, surviving spouse, or dependent of the early retiree who is any age. The Department of Health and Human Services (HHS) is administering this program.
ERRP will reimburse a portion of early retirees’ eligible health claims. The program will be in place until January 1, 2014 or until the funds are depleted, whichever comes first. We will provide support for those who wish to apply to the program.
You should also review the materials on the Department of Health and Human Services (HHS)’s website.
For more information, read our Early Retiree Reinsurance Program Q&As.
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