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Early Retiree Reinsurance Program (ERRP)

Created by the Affordable Care Act, a temporary program that provides reimbursement to employer sponsors of participating employment-based health plans for a portion of the cost of health coverage for early retirees and their families. This program expires in January of 2014.

Adverse Selection

Adverse selection occurs when healthy people opt out of purchasing insurance, and thus the premium prices rise, which then causes additional people to opt out.…