August 08, 2017
PPACA requires insurers to submit an annual report to HHS that accounts for plan costs. If the insurer doesn’t meet the medical loss ratio standards, they must provide rebates to policyholders. Rebates must be distributed to employer plan sponsors between Aug. 1, 2017, and Sept. 30, 2017. Employers should keep in mind that if they receive a rebate, there are strict guidelines as to how the rebate may be used or distributed.
For more information, please contact your advisor for a copy of “Medical Loss Ratio Rebates: A Guide for Employers” or “Medical Loss Ratio: PPACA’s Rules on Rebates.”