Plans May Exclude Drug Coupons from Annual Cost Sharing Limits
Reminder: Calendar Year SAR Must Be Distributed by September 30, 2019
Plans that are subject to ERISA and Form 5500 filing must distribute the SAR to participants within nine months of the end of the plan year; thus, a calendar year plan is required to distribute the SAR for the 2018 plan year by September 30, 2019. If the plan applied for an extension to the Form 5500 filing, the SAR is then due within two months following that filing.
The SAR is a summary of the plan’s information reported on the Form 5500. If a plan is not subject to Form 5500 filing, then it is exempt from the SAR notice requirement — this would include church plans, governmental plans and unfunded or insured plans with fewer than 100 participants. Also, large, unfunded self-insured plans that are unfunded are exempt from the SAR requirement even though they are subject to the Form 5500 filing requirement.
It’s MLR Rebate Time Again!
The ACA requires insurers to submit an annual report to HHS accounting for plan costs. If the insurer does not meet the medical loss ratio standards, they must provide rebates to policyholders. Rebates must be distributed to employer plan sponsors between August 1, 2019, and September 30, 2019. Employers should keep in mind that if they receive a rebate, there are strict guidelines as to how the rebate may be used or distributed.
Not all of our employees have work computers. Is posting the SPD and other required notices on a shared computer or sign-in kiosk sufficient for distribution purposes?
Special Enrollment Period Available for Consumers Enrolled in Trinity Healthshare
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