The federal Patient Protection and Affordable Care Act requires that health insurance carriers annually report Medical Loss Ratio.
In order to do so for 2012, BCBSM and BCN must know the average number of employees that underwritten groups had in the 2011 calendar year. This count must include all active (non-retiree) employees, even their part-time and seasonal employees, regardless of their eligibility for benefits.
Beginning on May 18, BCBSM will be contacting approximately 25,000 customers to ask them for their total employee counts. It’s very important that customers return the survey by June 15, 2012. If your business participates in SBAM’s sponsored BCBSM or BCN health care plans, watch the mail for this survey or click here to fill it out online.
It is vital that the most accurate numbers be reported. This information is critical in helping to determine whether BCBSM or BCN has met the minimum thresholds and if they must issue rebates to come into compliance. There are significant federal penalties for insurers and employers that do not comply with the law, including a penalty of $100 per responsible entity per day per violation per individual.
If you have any questions, please call SBAM Customer Service at (800) 362-5461 or contact your insurance agent.