Top Ten Payroll Mistakes Companies Make
The Affordable Care Act and Medical Loss Ratio (MLR) – The MLR generally requires that 80% or 85% of the premiums collected by insurance companies be spent on health care services and health care quality improvement rather than on overhead, administrative costs, and profit (healthcare.gov).
Starting in 2012, an insurer that does not spend enough on health care and quality-improving activities must give a rebate to the insured individuals or to the policyholder. Insurers must notify you by August 1st if you will be receiving a rebate.
Well, it’s August 1st today… Did any of you readers receive a rebate or receive a notice?