So what is the Transitional Re-Insurance Program? In a nut shell it is a bureaucracy set up to essentially rob Peter to pay Paul. It is a program that will be run by either HHS or a given state (if the state so chooses), that administers taking funds from private group insurance plans to compensate individual private plans that are run through the exchanges, but have very high costs associated with them. How much will this cost private group insurance, who knows at this point? It will costs though and with the added level of bureaucracy attached to it, it could cost substantially more. When will this be in place and running? It is to be up and running when the exchanges come on line in 2014.
If you would like to get more information on changes coming with the health care law, please continue to follow our blog. If you have a specific question and would like to get information on either a health plan or life insurance please call us at (714)680-5900 or find us at our website at www.ansainsuranceservices.com .
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