MIIA to distribute $6M in ERRP funds

Last year’s Patient Protection and Affordable Care Act, the national health care reform initiative, established a temporary Early Retiree Reinsurance Program, for which Congress appropriated $5 billion.

The ERRP is intended to help health plan sponsors (employers) with providing access to affordable health insurance coverage for early retirees. The ERRP is designed to reimburse employers for a portion of the cost of an early retiree’s health expenses.

The Massachusetts Interlocal Insurance Association, the nonprofit insurance arm of the MMA, submitted a request for payment on behalf of the members of its Health Trust and recently received $6,139,331.

MIIA will be distributing this money to the member communities in accordance with the federal regulations that govern the ERRP.