In our last ERRP post, we noted that $1 billion of the original $5 billion in Early Retiree Reinsurance Program (ERRP) funds has been paid out. Now, according to an article this week in Business Insurance, the US Dept of Health and Human Services (HHS) estimates that $3.6 billion will have been paid out in fiscal 2011 (ending 9/30/11). That leaves only $1.4 billion for next year – and then it’s gone.
So, if you’re thinking about applying, it’s time to make your move. The application process isn’t as bad as it initially appeared. Our last ERRP post outlines how to go about it.