Health Care Reform Reporting
Medical Loss Ratio Rebate Distribution
Medical Loss Ratio (MLR) Rebates
You must process and appropriately distribute MLR rebates distributed by health-plan insurers (if you are the policyholder).
BeneTrac provides a spreadsheet template, auto-populated with BeneTrac system data for calculating any rebates, which can then be processed according to the premium-responsibility arrangement.
Summary of Benefits & Coverage
Summary of Benefits and Coverage (SBC)
You must work with your insurer to provide applicants, enrollees, beneficiaries, and participants of certain plans with a summary of benefits and coverage (SBC) and uniform glossary (or provide them yourself if self-insured). You must also collect receipts of acknowledgement showing that employees have been provided these materials.
BeneTrac provides reporting features that allow a client to easily see if employees have established access to the SBC and glossary, including a date and time stamp.
Employer Notice Requirement
Employer Notice to Employees on Health Insurance Marketplaces
Group health plans and their plan administrators are now required to provide applicants, enrollees, beneﬁciaries, and participants of certain plans with a summary of beneﬁts and coverage (SBC) and uniform glossary.
We will work with your carrier to make these documents available and help you collect employee acknowledgements of receipt.
You are required to track any employees who decline the coverage you offer and the reason why (e.g., getting coverage through their spouse, cost of coverage, et cetera).
BeneTrac provides a system-generated report to help clients track employees getting coverage from elsewhere, particularly those who obtain a subsidy (tax credit) for coverage on a federal or state health insurance marketplace.