Employee Wellness 
Provide your employees with the latest wellness newsletter with the August edition of Live Well, Work Well.
Educate employees about their benefits with the August Benefits & Me Newsletter.
Deadline for Employers to Receive MLR Rebates is Approaching
Employers with insured group health plans may soon receive a medical loss ratio (MLR) rebate from their health insurance issuers. Issuers who did not meet the applicable MLR percentage for 2023 must provide rebates to plan sponsors by September 30, 2024. These rebates may be in the form of a premium credit or a lump-sum payment. Click here to learn more about MLR rebates.
Employers who receive MLR rebates should consider their options for using the rebate. Any rebate amount that qualifies as a plan asset under ERISA must be used for the exclusive benefit of the plan’s participants and beneficiaries. Employers should use the plan asset portion of the rebate within three months of receiving it to avoid ERISA’s trust requirement.
Our Towne Benefits Compliance Specialist, Corbin Granger, is hosting a webinar on How Employers Should Handle MLR Rebates. Join us on Tuesday, August 27 at 11:00 AM to learn more. Click here to register!
Medicare News
Medicare Negotiations for Lower Drug Prices Near the Finish Line
Second-Largest Medicare Advantage Insurer Prepares to Lose Over 200K People
Goodbye Medicare Part D Donut Hole
HealthEquity Data Breach Update
In late June, our carrier partners at Sentara and BCBSNC were notified of a data breach by HealthEquity, the custodian of their Health Savings Account (HSA).
In July, HealthEquity emailed impacted employer groups to notify them of the breach. They still plan to email affected employees around August 9, 2024. If employees do not receive a letter, HealthEquity determined that their personal information was not impacted.
HealthEquity has arranged free credit identity monitoring services through Experian for two years. Please click here for more information.
HR and Compliance Insights
Draft Forms for 2024 ACA Reporting Released