AUGUSTA, Maine — Maine businesses are getting some help as the transition to the federal health care overhaul gets under way.
The U.S. Department of Health and Human Services says businesses may now apply for assistance paying for health care under the Early Retiree Reinsurance Program. Congress appropriated $5 billion for the program as part of the Affordable Care act of 2010 to help businesses cover the costs of providing early retirees with health insurance.
Funds are available on a first come, first served basis.
The Early Retiree Reinsurance Program is a temporary effort until health insurance exchanges are phased in in 2014. It will provide financial assistance to employers, unions, state and local governments and nonprofits so retirees can get affordable insurance.