1332 State Innovation Waiver Reinsurance Program; Public Comment Period and Virtual Public Forum; Program Parameters; Notice 2021-06
[51 Pa.B. 3073]
[Saturday, May 29, 2021]
The Commonwealth is accepting public comments on its 1332 State Innovation Waiver Reinsurance Program (PA-Re) beginning Friday, June 4, 2021, and ending Friday, July 9, 2021. Comments may be directed to the Insurance Department 1332 Innovation Waiver, Attn: Katie Merritt, 1326 Strawberry Square, Harrisburg, PA 17120, RA-IN-PA1332Waiver@pa.gov.
A virtual public forum will provide additional opportunities to learn about and comment on the PA-Re. It will be held by means of Microsoft Teams on June 30, 2021, from 11 a.m. to 12 p.m. at https://teams.microsoft.com/l/meetup-join/19%3ameeting_YzEzNjZmMzUtODJkMS00Y2Q0LTg1OTUtODY1Yjk5OTRlYTBi%40thread.v2/0?context=%7b%22Tid%22%3a%22418e2841-0128-4dd5-9b6c-47fc5a9a1bde%22%2c%22Oid%22%3a%2280cc5f11-04bb-4f9a-a201-84346502e712%22%7d.
This forum will be recorded; attendance will constitute consent to the recording.
Information is available for review at www.insurance.pa.gov/PA1332Waiver. The Commonwealth's PA-Re was approved in July, 2020, by the Centers for Medicare & Medicaid Services, a division of the United States Department of Health and Human Services, and the United States Department of the Treasury. This approval is effective for the period of January 1, 2021, through December 31, 2025, with a provision for a possible extension at the end of the initial term.
Under the Commonwealth's approved 1332 waiver, the Commonwealth has established a reinsurance program, PA-Re. PA-Re is a claims-based, attachment point program that will reimburse health insurers for claims costs of qualifying Affordable Care Act-compliant individual enrollees, where a percentage of the claims costs exceeding a specified threshold (attachment point) and up to a specified ceiling (reinsurance cap) will be reimbursed. For the current first year of the program, beginning January 1, 2021, the adopted parameters are an attachment point of $60,000, a cap of $100,000 and a coinsurance rate of 60%. Initially adopted parameters for the second year of the program, beginning January 1, 2022, based on current projections and recognizing the unique challenges of the various Federal legislative responses to the pandemic, have a coinsurance rate of 40%, with the expectation that it may be increased, to reflect higher PennieTM enrollment projections and possible additional developments, before rates are finalized for the fall open enrollment period; and maintain an attachment point of $60,000 and a cap of $100,000.
Questions regarding this notice may be directed to the previously listed mail address and e-mail address.
JESSICA K. ALTMAN,
[Pa.B. Doc. No. 21-867. Filed for public inspection May 28, 2021, 9:00 a.m.]
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