Insurers that provide plans through the Patient Protection and Affordable Care Act individual marketplace are set to be receiving checks from the federal government to help them defray the costs associated with covering high-risk populations.
The Centers for Medicare and Medicaid Services, the agency that oversees PPACA’s implementation, announced on Friday that insurers would be splitting roughly $7.7 billion through the reinsurance program that they have been paying into.
After the first year of PPACA, insurers that paid into the reinsurance fund were reimbursed for every dollar they spent on a claim above $45,000, up to a maximum of $250,000.
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