On May 25, PEN INS issued 1332 waiver reinsurance parameters.
PEN INS issued Notice 2024-07 on 1332 waiver reinsurance program parameters.
Follows PEN INS notice of adopted program parameters for 2024, see #177264.
Reinsurance Program
In 2020, CMS approved 1332 Reinsurance Waiver application through Dec. 31, 2025.
Program is claims-based, attachment point reinsurance program that will reimburse health insurers for claims costs of qualifying Affordable care act-compliant enrollees.
Percentage of costs exceeding specified threshold up to ceiling will be reimbursed.
On Jan. 1, 2025, the newly updated program parameters will provide for an attachment point of $60,000, a cap of $100,000 and a coinsurance rate of 50%.
Effectiveness
Program parameters will become effective Jan. 1, 2025.
Jul. 2024 PEN INS Parameter Updates
On Jul. 27, 2024, PEN INS published notice to adjust the coinsurance rate on the initial adopted parameters, coinsurance rate will be adjusted to 60% as of Jan. 1, 2025.
Regulators
PEN INS
Entity Types
Ins
Reference
Nt 2024-12, PEN SR Vol. 54 No. 30. p. 4407, 7/27/2024; SR PEN Vol 54 No. 21 p. 2907, Nt 2024-07, 5/25/2024
