As your trusted advisor, we will post urgent and pertinent information you need to know in a variety of insurance situations.
2021-02 February 2021
Demonstration of Insurance Policies as Contracts
Insurance policies are in fact contracts. All contracts, including insurance policies, contain rights and duties.
A recent Michigan Court of Appeals case demonstrates that insurance policies are contracts. In the case of Fabatz v. Auto-Owners…[read more]
2021-01 February 2021
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) that give employees additional time to use these funds…[read more]
2020-07 September 2020
Annual Medicare Part D Notices Deadline Approaching — October 15
Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable.
Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before October 15, 2020 — the start date of the annual enrollment period for Medicare Part D...[read more]
2020-06 September 2020
Medical Loss Ratio Rebates
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 Patient Protection and Affordable Care Act (PPACA) of 2010 requires insurance companies to pay annual Medical Loss Ratio (MLR) rebates for groups of health insurance policies issued in a state that is less than…[read more]
2020-05 July 2020
PIP Coverage & Qualified Health Plan Letters
As you know, changes to the Michigan No-Fault law became effective early July 2020. These changes have brought additional requests from auto insurance carriers. Since Mason McBride is your trusted advisor, we wanted to make our clients aware of this situation that could potentially affect you.
In the Past: Coordination of Benefits Letter
A Coordination of Benefits letter was requested when…[read more]
2020-04 June 2020
What Public Acts 21 and 22 Mean to Your Michigan No-Fault Auto Insurance Coverage
In May 2019, the Michigan legislature passed – and the Governor signed – Public Acts 21 and 22 of 2019. These Acts were the first comprehensive No-Fault Auto changes of any substance in 40 years. The Acts have several staggered “triggers” that will have taken effect or many that will take effect in the future. But, the bulk of this reform package takes effect on July 2, 2020.
At Mason-McBride, we have recently become aware of a provision…[read more]
2020-03 June 2020
Questionable Auto Insurance Marketing Tactics
Recently, clients have made us aware of aggressive and questionable premium savings promises in marketing material sent to them by various companies.
These materials include promises of “extremely high discounts” and “reductions of 50%.” One promised even more discounts if you didn’t have…[read more]
2020-02 June 2020
Recent Events and Terrorism
Recent events around protests, civil unrest, riots, and looting have reminded us of the importance of properly constructed property insurance. One notable element was President Trump’s recent declaration of ANTIFA as a domestic terrorist organization and the potential effect that may have on the property insurance exclusion language related to terrorism.
In addition, could that declaration affect prospective coverage, if elected, under the Terrorism Risk Insurance Program (TRIA)?
Our recommendation to clients has been and continues to be…[read more]
2020-01 May 2020
We have become aware of instances whereby certain indemnification and hold harmless language in contracts are being modified to include exposure for COVID-19 resulting from any property condition or your employees at a location.
We urge clients to carefully review these provisions as counterparties may be modifying them without notice.
Accordingly, please seek counsel as needed…[read more]