Employers that offer group health plans with prescription drug coverage to Medicare-eligible individuals must comply with Medicare Part D disclosure requirements. These requirements include notifying Medicare-eligible individuals whether the employer’s prescription drug coverage is creditable, meaning it is expected to…
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…
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)…
The annual Medicare Part D disclosure notices have a deadline of October 15, 2020. Highlights of the Annual Medicare Part D Notices Medicare Part D imposes disclosure requirements on employers with group health plans that provide prescription drug coverage to…
What is Medical Loss Ratio (MLR)? Medical Loss Ratio (MLR) is the percent of premiums an insurance company spends on member care, claims, and administrative expenses that improve health care quality. What is the Medical Loss Ratio (MLR) rebate? The…
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…
