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Early Retiree Reinsurance Program: bridge to 2014.
1Barney School of Business, University of Hartford, CT, USA. acostello@hartford.edu
Benefits Quarterly
|August 16, 2013
Summary
The Early Retiree Reinsurance Program (ERRP) provided temporary stability for employer-sponsored retiree health benefits. This $5 billion program was quickly depleted, highlighting the need for broader insurance access.
Area of Science:
- Health Policy
- Economics
- Public Health
Background:
- The Patient Protection and Affordable Care Act (ACA) introduced the Early Retiree Reinsurance Program (ERRP).
- ERRP aimed to stabilize the employer-supported retiree health care market.
- This program served as a temporary measure until broader insurance access was established in 2014.
Purpose of the Study:
- To review the development and motivation behind the ERRP.
- To document the recipients who benefited from the reinsurance program.
Main Methods:
- Review of legislative history and program documentation.
- Analysis of program expenditure and recipient data.
Main Results:
- The $5 billion appropriation for ERRP was expended within 18 months, significantly faster than the anticipated four years.
- The article details the specific entities and individuals who received benefits from the program.
Conclusions:
- The rapid depletion of ERRP funds underscores the substantial demand and financial pressure within the early retiree health care market.
- The program's short lifespan indicated the urgent need for the ACA's comprehensive insurance reforms.
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