The reinsurance program, risk corridors program, and risk adjustment program support the effective functioning of the American Health Benefit Exchanges ("Exchanges"), which will become operational by January 1, 2014. The program also mitigate the negative impacts of adverse selection and market uncertainty.
As detailed above, certain burden estimates for information collection requirements associated with the reinsurance, risk adjustment, and risk corridors programs have changed from what was previously estimated in the Premium Stabilization Rule due to policy changes in the final HHS notice of benefit and payment parameters for 2014. We have also updated the burden we described in the draft Payment Notice information collection notice published as part of the proposed Notice of Benefit and Payment Parameters for 2014 (77 FR 73117) to reflect--
o policy changes that were finalized in the final HHS notice of benefit and payment parameters for 2014,
o the agency's most current estimates of the reinsurance, risk adjustment, and risk corridors operations, and
o public comments on the information collection that were received during the 60-day comment period.
As a result of these adjustments, we are reducing the total annual burden estimate described in draft Payment Notice information collection notice by 9,741,696 hours, which results in an estimated total annual burden of 1,013,293 hours associated with the requirements set forth in the final HHS notice of benefit and payment parameters for 2014. This reduction reflects the following modifications--
o an adjustment to our estimate of the burden associated with the distributed data requirements under ?153.610 and ?153.700 to reflect only the incremental burden that was not already accounted for in the information collection for the Premium Stabilization Rule, addition of the burden associated with submission of a masked enrollee ID number under the distributed data approach set forth in ?153.610 and ?153.700,
o the removal of the burden associated with State operation of the risk adjustment and reinsurance programs because we expect fewer than 10 states to operate risk adjustment or reinsurance in the 2014 benefit year, and
o an increase in the number of reinsurance contributing entities based on the Department of Labor's current estimate of the number of self-insured plans.
$274,936
No
No
Yes
No
No
Uncollected
William Parham 4107864669
Reginfo record details
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
CMS-10401-3Rs Supporting_Statement_Revised.pdf
Data Validation Requirements When HHS Operates Risk Adjustment