Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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Text of IRS Letter Clarifying ACA Health Insurance Providers Fee and MLR Rebates: July 15 Deadline for Corrected Filing of Form 8963 (PDF)
Internal Revenue Service [IRS] [Official Guidance] June 29, 2015 "Starting in 2014, with initial reporting due at the end of the contract period (December 2015, after the 'Part D reconciliation and calculation of risk corridor payments' are performed), the ACA requires Medicare Advantage and Medicare Part D plan insurers to meet a minimum MLR requirement. If the insurer does not meet the requirement, they must refund an amount back to the Federal Government.... In determining net premiums written for the 2015 fee year, which is based on 2014 data, covered entities must take into account on an accrual basis any MLR rebates for Medicare Advantage and Medicare Part D plans and for Medicaid in the states or contracts that require MLR computations.... Any entity that must correct a previously submitted Form 8963, 'Report of Health Insurance Provider Information,' to account for additional MLR rebates accrued in 2014 as described in this letter must file a corrected Form 8963 during the correction period, no later than July 15, 2015." [This undated letter was posted on IRS website June 29, 2015.] |
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