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Good Neighbor Travel Insurance Blog

The 2017 Comparative Effectiveness Research Fee

July 17, 2017 By : Administrator

The 2017 Comparative Effectiveness Research Fee is one of the last taxes / fees that were signed into law in 2010 called the Affordable Care Act (ACA).

The Affordable Care Act imposes an annual fee called the Comparative Effectiveness Research Fee (CERF) on insurers and plan sponsors of self-insured coverage to help fund the Patient-Centered Outcomes Research Institute. This email includes a brief review of CERF as well as the information and support Cigna provides to answer your questions and help you prepare for this year’s payment.

Good Neighbor Insurance is an international medical insurance brokerage firm which was started back in April 1997 here in Gilbert, Arizona. In order for our international medical licensed agents provide top notch medical insurance advice and suggestions to our clients over these 20 years we have to keep up with the U.S. domestic insurance market rules and regulations. The Affordable Care Act (ACA) is has three major parts or also called rules and regulations passed in 2010 by the U.S. government for U.S. domestic health insurance. The first part is the details of the medical coverage for all U.S. domestic medical insurance long term / 365 days a year. The second part is the checks and balances that hospitals and medical insurance companies have to follow in order to keep their status in good standing with the U.S. government. The last part is related to taxes or also called fees. There is around 26 new taxes and fees created by the Affordable Care Act.

Below is information on one of the last taxes / fees that the Affordable Care Act has required all U.S. domestic medical insurance companies have to follow. Please note that the Affordable Care Act is only related to medical insurance in the U.S. and is not involved in any international medical insurance rules and regulations.

2017 CERF Payment Details The fee is based on the average covered lives for the applicable 12-month policy or plan year, and is paid using IRS Form 720 by July 31 each year for the plan year that ended in the preceding calendar year. It’s important to remember that employers must use their ERISA plan year if it is different from the renewal date. The fees for 2017 are:

Plan Year Start Date

Fee Per Average Covered Life

Feb. 1, 2015–Oct. 1, 2015 Nov. 1, 2015–Jan. 1, 2015

$2.17 $2.26

Who Is Responsible for Paying?

  • Each U.S. domestic medical insurance company pays the fee for insured plans (including guaranteed cost, shared returns, and minimum premium plans), and it is built into premiums.
    • Health Reimbursement Accounts (HRAs) and certain Flexible Spending Accounts (FSAs) are considered self-funded group health plans. Cigna will pay the fee for the underlying medical policy only; clients are responsible for the HRA/FSA related fee. Self-funded plans (including level funding and graded preferred plans) must calculate and pay their own fee.

For a travel medical insurance quote, please call one of our Good Neighbor Insurance licensed agents at 866-636-9100 or locally here in Arizona at 480-633-9500. You may also reach us via email at info@gninsurance.com.

Good Neighbor Insurance has been in business for over 20 years! Every one of our international trained agents has a heart to serve you, our guests.  It is a joy to know that we can provide a peace of mind with one of our many overseas medical insurance options to safe guard from financial calamity as well as providing you the best medical care while on your travels.

Administrator

Search Results

Health Net Update – Exchange Enrollment Cancellation and Options for Consumers Who Missed Deadline for Binder Payment

March 11, 2014

Now that January 31, 2014 has passed, Health Net is required to cancel enrollment of consumers who had January 1, 2014 effective date and did not make their initial premium payment after enrolling through Covered California, Covered Oregon or the Health Insurance Marketplace here in Arizona. The short, friendly letter we are sending out on […]

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Expatriate medical insurance and overseas travel insurance for those with U.S. Medicare – Part 2. 

February 15, 2018

Expatriate medical insurance and overseas travel insurance for those with U.S. Medicare – Part 2.  Good Neighbor Insurance has been asked over the years how does U.S. Medicare work?  Many of our long term, expatriate, clients who reside for many years outside the U.S. have some idea of how U.S. Medicare works but not fully.  The […]

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W-2 reporting requirements for employers – starting 2011

January 28, 2011

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Sedona, Arizona is an amazing place to vacation

May 6, 2014

 Famous for its red sandstone rock formations the town was named after Sedona Arabella Miller Schnebly (1877–1950), the wife of Theodore Carlton Schnebly, the city’s first postmaster. Located just 120 miles north of Phoenix, its red rocks form a popular background for many activities, ranging from spiritual pursuits to the hundreds of hiking and mountain […]

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HIPAA Certificates No Longer Required in 2015

February 24, 2015

HIPAA Certificates No Longer Required in 2015 Effective for plan years beginning on or after Jan. 1, 2014, the Affordable Care Act (ACA) prohibits group health plans and issuers from imposing pre-existing condition exclusions (PCEs) on any enrollees. Prior to 2014 plan years, the ACA prohibited PCEs for enrollees under 19 years of age. The […]

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Regarding Motocross Insurance | MX insurance

November 25, 2014

From the desk of the the owner, Doug Gulleson FOR IMMEDIATE RELEASE November 21, 2014 Dear Clients: Over the last two years we have had the opportunity of covering those who wanted motocross insurance – MX coverage both traveling to, and during participation of your sport. This was great coverage through the Diplomat International / […]

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Motocross insurance

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