S.2803 - Taxpayers Before Insurers Act114th Congress (2015-2016)
|Sponsor:||Sen. Sasse, Ben [R-NE] (Introduced 04/14/2016)|
|Committees:||Senate - Health, Education, Labor, and Pensions|
|Latest Action:||04/14/2016 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (All Actions)|
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Summary: S.2803 — 114th Congress (2015-2016)All Bill Information (Except Text)
Introduced in Senate (04/14/2016)
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.)