Day 6 - Early Retirees.... Hey! that's us!

Sec. 1102. Reinsurance for Early Retirees.

a) Administration

1)For 5 years the Secretary will establish a temporary reinsurance program

to reimburse employers a portion of the cost of health ins. for early retirees.

2) definition of terms.... description of coverages.... claims... audits.... appeals....and

3) limits: Secretary will pay 80% of excess of $15,000 in claims and not greater

than $90,000 the employers.

4) Funding: 5,000,000,000.00 for this program; Secretary can stop taking applications

based on availability of funding... Is anyone keeping track of these billions?

Sec. 1103 Immediate information that allows consumers to identify

affordable coverage options.

a) Internet Portal to Affordable Coverage Options-

By July 1, 2010, the Secretary will establish with the States, a website so residents

can find health ins. options in that State.

- health ins. coverage

- Medicaid coverage

- Social Security coverage

- the State's high risk pool (if any)

b) Standardized format for the presentation of the above information.

Sec. 1104 Administrative Simplification

-Purpose of this section: to amend former law

-Page after page of simple definitions, operating rules, simplify forms,

compliance with standards in this bill.

- Secretary will establish a review committee to evaluate and review the

adopted standards & operating rules and report recommendations.

- Secretary will assess a penalty fee against a health plan not in compliance.

Sec. 1105 Effective Date

The effective date is the date the bill is enacted.

Tomorrow

Part 1 health insurance market reforms...