| Employers with fully insured health plans that receive MLR rebates | Employers that receive rebates should consider their legal options for using the rebate. Any rebate amount must be used for the exclusive benefit of the plan’s participants and beneficiaries within 3 months of receiving the rebate to avoid ERISA trust requirements. | Penalty for each violation is $100 per entity, per day, per individual affected by the violation. |
Cosmo Insurance Agency is a full-service independent insurance agency based in New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses.
Disclaimer: The information on this website is for informational and educational purposes only and is not a substitute for competent insurance, legal or tax advice and you should consult with a licensed professional in your state.
Copyright – Cosmo Insurance Agency – All Rights Reserved.
