MLR premium rebate checks began mailing this month and those who qualify are expected to receive their check for the 2020 plan year by the end of the month.
For benefit health plan 2020, UnitedHealthcare’s results show 53 group aggregation sets – 23 small group and 30 larger group – are qualified to receive premium rebates totaling $141,754,976. Additionally, 6 individual aggregation sets are qualified to receive rebates totaling $3,667,822.
A Few Reminders
· MLR applies to fully insured group commercial plans and individual plans.
· MLR is based on legal entity, situs status, and MLR group size of employer (otherwise known as aggregation set).
· MLR payouts are based on the performance of an aggregate set, not the performance of a specific group or individual.
· Insurers are required by law to spend a minimum percentage of premium dollars (80% for individual and small group markets and 85% for large group) on medical services and activities designed to improved health care quality.
Calculate Employee Distribution
We’re here to help and that includes providing you with assistance determining how much of your rebate needs to be distributed to your employees.
Click Here to use our Rebate Distribution Calculator!
You can also reach out with questions about your rebate check, rebate qualification or anything else you need assistance with. Call us at 314.637.6756 or send us an email at info@simparahr.com.
