Sec. 2. Changes in funding for transitional reinsurance program in the individual market
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Section 1341(b) of the Patient Protection and Affordable Care Act ( Public Law 111–148 ; 42 U.S.C. 18061(b) ) is amended— in paragraph (1), by striking under which— and all that follows and inserting the following: under which the applicable reinsurance entity uses amounts appropriated under paragraph (2)(B) to make reinsurance payments to health insurance issuers that cover high risk individuals in the individual market (excluding grandfathered health plans) for any plan year beginning in the 3-year period beginning January 1, 2014. ; in paragraph (2)(B), by striking and all that follows through the end of the first sentence and inserting the following:
Payment amount ; and Authorization of appropriations; payment formula.— There are hereby authorized to be appropriated, based on the best estimates of the NAIC, $10,000,000,000 for plan years beginning in 2014, $6,000,000,000 for plan years beginning in 2015, and $4,000,000,000 for plan years beginning in 2016 to make reinsurance payments to health insurance issuers described in paragraph
(1)that insure high-risk individuals consistent with paragraph (3). by striking paragraphs
(3)and
(4)and inserting the following: The amounts appropriated for a plan year under paragraph (2)(B) shall be allocated among States and used in any of the plan years referred to in such paragraph based on the reinsurance needs of the States and periods involved, as determined by the Secretary. Amounts appropriated under paragraph (2)(B) that remain unexpended as of December 31, 2016, and that are otherwise allocated to a State may be used to make payments under any reinsurance program of the State in the individual market in effect in the 2-year period beginning on January 1, 2017. . The amendments made by subsection
(a)shall take effect as if included in the enactment of section 1341 of Public Law 111–148 .
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- Pub. L. 111-148
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Sec. 2
Changes in funding for transitional reinsurance program in the individual market
Pub. L.Pub. L. 111-148
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