Have You Received an MLR Rebate Check? What To Do Next?

The Affordable Care Act requires health insurance carriers to spend at least 80-85 percent of premium dollars on medical care and healthcare quality improvement. If the carrier does not meet this medical loss ratio (MLR) obligation, it must give affected customers a rebate. Rebates must be distributed by the carriers each year by September 30. Any employer that receives a refund then needs process and distribute within 90 days to avoid triggering ERISA trust requirements. For your convenience we have included more information regarding this topic in our compliance bulletin, including:

How should the rebate be divided?
Are former plan participants entitled to a share in the rebate?
How may the employer use the rebate?
How should the rebate be provided?
Additional Q&As on how the rebate should be used

If you have any questions about distribution or how to calculate your MLR rebate, please contact Innovative Benefit Planning at icomply@ibpllc.com

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Have You Received an MLR Rebate Check? What To Do Next?