Health Care Reform Bulletin # 12

From: Jim Gallic [mailto:jgallic@businessolver.com]
Sent: Tuesday, April 17, 2012 10:44 PM
To: Team
Subject: Health Care Reform Bulletin # 12

So you probably saw the resent Bulletin #10 come across your desk at lunchtime and thought that you were not going to get a "NEW" bulletin for today. But today is your lucky day because you get TWO bulletins. 



It is exactly that effort and excitement that is noticed and ultimately drives clients to want to partner with Businessolver. We received such incredible feedback from the attendees today. They mentioned that they could feel the energy and excitement in every department, were amazed at the smiles on everyone one's faces and the passion for excellence throughout every interaction. Thank you so much for all that you do to make Businessolver truly special!

And now for the News

There are a number of news articles that are worth reading to stay up to date but have a greater impact as you may receive phone calls from clients and members impacted by recent events.

Two Insurers cited for MLRs and Increase Justifications

Reuters is reporting through a Benefit new article that two insurers (Assurant & United Security) are being cited over premium hikes. The two insurance companies could not justify the 24% rate hike and are not within the new Medical Loss Ratios (MLRs) requirement. Both companies will need to rebate the over charged premium to the employers. 

Impact - This is the first citation,based on the new justification and MLR requirements,which will be the test case for the legal challenges should PPACA be upheld.  Employers should be meeting with their brokers and carriers to determine their plan should they receive a rebate due to overcharging.

Final Regs on Summary of Benefit Coverage

There are additional clarifications around the Summary of Benefit Coverages requirement of PPACA. The final regulations released today address the differences between electronic and paper documents. They also address the requirements for different segments of the workforce.  Here is the overview and here is the deeper dive.

Impact - Brokers and employers need to start creating their SBC documents in order to prepare for the revised deadline of Sept 23, 2012.

We will return to reviewing the previous bulletins next time unless there is important news that impacts our clients and channel partners.

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