It’s MLR Rebate Time Again!
A requirement under PPACA is that insurers must submit an annual report to HHS accounting for plan costs. If the insurer does not meet the medical loss ratio standards, they must provide rebates to policyholders. Rebates must be distributed to employer plan sponsors between Aug. 1, 2016, and Sept. 30, 2016. Employers are reminded that if they receive a rebate, there are strict guidelines as to how the rebate may be used or distributed. Please contact your ShawHankins Benefits Consultant for a copy of “Medical Loss Ratio Rebates: A Guide for Employers” or “Medical Loss Ratio: PPACA’s Rules on Rebates.”