Teacher:In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Teacher: Now, understand the problem? Solve this instance: SECTION 1. FINDINGS; PURPOSE.

(a) Findings.--Congress makes the following findings:
(1) According to the most recent United States Census,
employer-based health insurance is the largest source of health
insurance coverage in the United States. Of those employed, 70
percent receive employment-based health insurance. Of
unemployed Americans, 30 percent receive employer-sponsored
health insurance.
(2) Despite the large percentages of coverage, as health
care costs climb, the percentage of Americans who receive
health insurance through employers has fallen significantly
over the last decade--from 70 percent nationwide in 2000 to 60
percent in 2011, according to a report by the Robert Wood
Johnson Foundation.
(3) According to recent surveys done by the National
Business Group on Health and the Kaiser Family Foundation, most
companies continue to provide health insurance for employees
and wish to continue doing so into the future.
(4) Employers who offer insurance will not contribute
additional risk to the health insurance exchanges established
in the Patient Protection and Affordable Care Act (in this Act
referred to as ''PPACA'').
(5) The transitional reinsurance program, established in
section 1341 of PPACA, is intended to stabilize risk in the
individual health insurance market during the first three years
of the health insurance exchanges, as established by that Act.
(6) PPACA also requires that the Treasury collect a fee for
each employer-sponsored covered life in order to pay for the
transitional reinsurance program.
(7) This fee is a disincentive for employers to continue
offering coverage to all employees, and does not give employers
any benefits of the transitional reinsurance program.
(b) Purpose.--It is the purpose of this Act to remove the current
funding mechanism for the transitional reinsurance program. Employer-
sponsored insurance should be supported so that Americans can sustain
quality health coverage.

SEC. 2. CHANGES IN FUNDING FOR TRANSITIONAL REINSURANCE PROGRAM IN THE
INDIVIDUAL MARKET.

Section 1341(b) of the Patient Protection and Affordable Care Act
(Public Law 111-148; 42 U.S.C. 18061(b)) is amended--
(1) in paragraph (1), by striking ''3-year period'' and
inserting ''1-year period'' each place it appears;
(2) in paragraph (3)(A), by striking ''36-month period''
and inserting ''12-month period'';
(3) in paragraph (3)(B)(iii), by striking '',
$6,000,000,000 for plan years beginning 2015, and
$4,000,000,000 for plan years beginning in 2016'';
(4) in paragraph (3)(B)(iv), by striking '', an additional
$2,000,000,000 for 2015, and an additional $1,000,000,000 for
2016'';
(5) in paragraph (4)(A), by striking ''used in any of the
three calendar years for which amounts are collected based on
the reinsurance needs of a particular period or to reflect
experience in a prior period'' and inserting ''only used with
respect to the calendar year for which amounts are collected
based on the reinsurance needs for that year, as determined by
the Secretary'';
(6) in paragraph (4), by amending subparagraph (B) to read
as follows:
''(B) amounts remaining unexpended as of December,
31, 2015, shall be deposited into the general fund of
the Treasury of the United States.''; and
(7) by adding at the end the following new paragraphs:
''(5) Availability of funding for states for 2015 and
2016.--
''(A) Authorization of appropriations; payment
formula.--There are hereby authorized to be
appropriated, based on the best estimates of the NAIC,
$6,000,000,000 for plan years beginning in 2015 and
$4,000,000,000 for plan years beginning in 2016 to make
reinsurance payments to health insurance issuers that
cover high-risk individuals in the individual market
(excluding grandfathered health plans) that insure
high-risk individuals consistent with this paragraph.
''(B) Fund availability.--The amounts appropriated
under subparagraph (A) for plans years beginning in a
calendar year shall be allocated among States and only
used with respect to the calendar year for which
amounts are collected based on the reinsurance needs
for that particular year, as determined by the
Secretary and the amounts remaining unexpended as of
December 31 of the following year shall be deposited
into the general fund of the Treasury of the United
States.
''(6) GAO audit of use of 2014 funds.--The Comptroller
General of the United States shall provide for an audit of
expenditures made under this subsection with respect plans
years beginning during 2014. Such audit shall include a
determination of the number of claims submitted by health
insurance issuers, the amount of such claims, a comparison of
the amount of such claims and the amounts collected to cover
such claims, and the amount of reinsurance payments made under
this section to health insurance issuers. The Comptroller
General shall submit a report on such audit to Congress not
later than 3 months after the last date that such reinsurance
payments are made, but not later than July 1, 2016.''.
Student:
This bill amends the Patient Protection and Affordable Care Act to eliminate the funding mechanism for the transitional reinsurance program. Currently, issuers of individual, group, and self-funded plans are required to pay a fee in 2014, 2015, and 2016 to fund the three-year transitional reinsurance program. Under the transitional reinsurance program, non-grandfathered individual market plans that enroll high-cost individuals are eligible for reinsurance payments. This bill eliminates the requirement for issuers to pay a fee in 2015 and 2016. Instead, it authorizes appropriations for the program. This bill also requires the Government Accountability Office to audit 2014 expenditures under the transitional reinsurance program.