H.R.5904 - Taxpayers Before Insurers Act114th Congress (2015-2016)
|Sponsor:||Rep. Walker, Mark [R-NC-6] (Introduced 07/14/2016)|
|Committees:||House - Energy and Commerce; Appropriations|
|Latest Action:||House - 07/14/2016 Referred to the Committee on Energy and Commerce, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
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Summary: H.R.5904 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (07/14/2016)
Taxpayers Before Insurers Act
This bill rescinds specified departmental management funds from the Office of the Secretary of Health and Human Services (HHS) unless HHS deposits into the Treasury specified funds derived from contributions collected under the Transitional Reinsurance Program.
The rescission is required unless HHS deposits into the Treasury: (1) $2 billion for each of calendar years 2014 and 2015 within 45 days of enactment of this bill, and (2) $1 billion for 2016 by March 1, 2017.
(The Transitional Reinsurance Program was created by the Patient Protection and Affordable Care Act [PPACA] to stabilize premiums in the individual health insurance market by partially reimbursing insurers for high-cost enrollees. Health insurance issuers and certain group health plans make contributions to the program, and reinsurance payments are made to issuers for enrollees in certain individual market plans with claim costs within a specified level. Portions of the reinsurance contributions are allocated for the reinsurance payment pool, administrative expenses, and the Treasury.)