Northampton County Saves Over $273,000 Through The Early Retiree Reinsurance Program
LEHIGH VALLEY, PA (April 5, 2011) Great budget saving news is coming out of Northampton County. Through a federal funding program called the Early Retiree Reinsurance Program (ERRP), hireVision was able to assist the County in obtaining reimbursement dollars of over $273,000 to help offset increases in health benefit costs.
Since the County offers a retiree medical program for their early retirees (defined as under Medicare eligible age), hireVision saw that the County might qualify for the ERRP. After assisting the County with the completion of the Early Retiree application process, the application was accepted by the Department of Health and Human Services (HHS). Following acceptance of the application, hireVision assisted the County in securing over $273,000 in the very first refund through the required reimbursement process. “We will continue to file for the balance of this year and all of next, until the funds run out,” says hireVision President and CEO, Tina Hamilton. “We are anticipating significantly more reimbursement dollars over the next 18 months, which will only add to the great savings this program will provide to the taxpayers of Northampton County while maintaining benefits to retirees who have worked hard for the community.”
hireVision was able to facilitate a time-consuming application process while the County staff and management kept their focus on their primary tasks that serve the Northampton County residents. Countless kudos to Kelly Coblentz, General Manager, HR and Hiring Services, for all her efforts to make this happen.
ABOUT THE EARLY RETIREE REINSURANCE PROGRAM (ERRP)
This program is part of the federal Affordable Care Act, which was designed to encourage employers to make health benefits accessible to more Americans. The program provides reimbursement of a portion of the health benefit costs for early retirees, their spouses and dependents. The reimbursement comes directly from United States Department of the Treasury to an account that has been specified by the participating organization (called a “Plan Sponsor”) in the ERRP Secure Website. The ERRP reimbursements may be used to reduce premium contributions, co-payments, deductibles, co-insurance, or other out-of-pocket costs, and Plan Sponsor may use the reimbursement to offset increases in its costs. (For more information, go to the ERRP website.)
DEADLINE LOOMS FOR THE ERRP
Unfortunately, effective May 6th, 2011, the program will no longer be accepting new applications. Any employers wishing to apply to the ERRP must submit an application, and the complete application must be received by the ERRP Application Center on or before 5PM ET on May 5, 2011. Currently pending incomplete applications must also be completed by May 5th or they will not be processed.
Please contact us immediately if you would like hireVision to assist your organization with this process.
About hireVision: hireVision Group, Inc. is an award-winning Human Resources innovator committed to making HR services affordable and accessible to any size company. Through culturally-based Hiring Management Services, organizations are able to outsource all or part of their hiring process. HR DirectLink Services enable hireVision to act as a company’s total HR department, or work in tandem with an existing department to manage time-consuming HR functions without adding headcount. An extensive A La Carte option means every client can build their own hiring or HR solution. To learn more about how hireVision can transform your HR function into a competitive advantage, visit www.hirevisiongroup.com.