The Purpose of the Fee
The funds collected by the TRF are used to help stabilize the individual medical insurance market. On 1.1.2014 the Affordable Care Act did away with pre-existing condition waiting periods and health underwriting. The TRF was instituted in the event that only a few insurance carriers ended up with the majority of the sickest patients.
The Fee Amount
This TRF is accrued over three years: 2014, 2015, and 2016. For 2014, the fee was $5.25 per member per month. For 2015, it was $3.67 per member per month. The fee for 2016 will be $2.25. 2016 will be the last year the fee is imposed.
The definition of “member” is every employee, spouse, and child enrolled on your group medical plan(s). This also includes retirees under age 65 and COBRA members enrolled on your group medical plan(s). There are three different methods for calculating your average number of members: Actual count, snapshot, and Form 5500. .
Register on www.pay.gov. Complete the Contribution Form, Upload supporting documents
Contact your bank re: ACH Schedule payment
If you chose 2-payment method, make your 2nd payment
We recommend the snapshot method. If you would like to review these methods please contact your GHB agent.