By:Lauren Corbett
As part of the Affordable Care Act insurers are required to issue rebates by August 1st if a certain percentage of the premiums they receive in the individual and group markets aren’t spent on direct medical expenses or activities that improve the quality of care.
BCBSM announced in their June News Alert that they met all the requirements under PPACA. This means the company won’t be issuing rebates this year to groups and individual members.
The government requires that insurers notify groups and individual members for the 2011 MLR reporting year even if they won’t receive a rebate. In compliance with the requirements this postcard was sent to members on the week of August 6th, stating that BCBSM has met or exceeded the requirements.
For more information, contact your AFG Account Manager or visit bcbsm.com/healthreform.