Sec. 2. Changes in funding for transitional reinsurance program in the individual market
438 words·~2 min read·
/bill/114/hr/1886/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 3-year period and inserting 1-year period each place it appears; in paragraph (3)(A), by striking 36-month period and inserting 12-month period ; in paragraph (3)(B)(iii), by striking , $6,000,000,000 for plan years beginning 2015, and $4,000,000,000 for plan years beginning in 2016 ; in paragraph (3)(B)(iv), by striking , an additional $2,000,000,000 for 2015, and an additional $1,000,000,000 for 2016 ; in paragraph (4)(A), by striking used in any of the three calendar years for which amounts are collected based on the reinsurance needs of a particular period or to reflect experience in a prior period and inserting only used with respect to the calendar year for which amounts are collected based on the reinsurance needs for that year, as determined by the Secretary ; in paragraph (4), by amending subparagraph
(B)to read as follows: amounts remaining unexpended as of December, 31, 2015, shall be deposited into the general fund of the Treasury of the United States. ; and by adding at the end the following new paragraphs: There are hereby authorized to be appropriated, based on the best estimates of the NAIC, $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 that cover high-risk individuals in the individual market (excluding grandfathered health plans) that insure high-risk individuals consistent with this paragraph. The amounts appropriated under subparagraph
(A)for plans years beginning in a calendar year shall be allocated among States and only used with respect to the calendar year for which amounts are collected based on the reinsurance needs for that particular year, as determined by the Secretary and the amounts remaining unexpended as of December 31 of the following year shall be deposited into the general fund of the Treasury of the United States. The Comptroller General of the United States shall provide for an audit of expenditures made under this subsection with respect plans years beginning during 2014. Such audit shall include a determination of the number of claims submitted by health insurance issuers, the amount of such claims, a comparison of the amount of such claims and the amounts collected to cover such claims, and the amount of reinsurance payments made under this section to health insurance issuers. The Comptroller General shall submit a report on such audit to Congress not later than 3 months after the last date that such reinsurance payments are made, but not later than July 1, 2016. .
Connectionstraces to 1
Traces to 1 document
1 reference not yet in our index
- Pub. L. 111-148
Citation graph
cites case law
Sec. 2
Changes in funding for transitional reinsurance program in the individual market
Pub. L.Pub. L. 111-148
Cites 2Cited by 0 across 0 sources