What is Medical Loss Ratio? Medical Loss Ratio (MLR) is the percentage of premiums an insurance company spends on member care, claims, and administrative expenses that improve healthcare quality. What is the Medical Loss Rebate? The Patient Protection and Affordable…
Starting on January 15, 2022, most people with a health plan can purchase an at-home COVID-19 diagnostic test authorized by the U.S. Food and Drug Administration (FDA) at no charge. In addition, depending on your health plan, the test may…
The annual Medicare Part D disclosure notices have a deadline of October 15, 2022. Annual Medicare Part D Notices Medicare Part D imposes disclosure requirements on employers with group health plans that provide prescription drug coverage to Medicare-eligible individuals. Plan…
The American Rescue Plan Act (ARPA) was signed into law by President Joe Biden on March 11, 2021. Here is an overview of three temporary provisions affecting employers. These provisions are effective April 1, 2021. COBRA Premiums — Extended…
There are new temporary rules for Flexible Spending Accounts (FSAs). President Trump signed the Consolidated Appropriations Act of 2021 into law on December 27, 2020. The Act provides temporary special rules for health and dependent care flexible spending accounts (FSAs)…
A health savings account, or HSA, is a type of saving account that allows you to set aside tax-deferred money for healthcare expenses. It’s essentially a retirement plan but for healthcare purposes. HSA’s can be a great option because you…