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IBC Specific
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IBC collecting tobacco use information from customers
IBC will mailing letters to employers, 7 months prior to anniversary beginning with 1/1/14 anniversaries, to collect information on their employee tobacco usage. ACA allows insurers to rate based on tobacco usage, as of 2014.
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Updates on SBC Rules; Change to Off-anniversary lead time
In order to comply with the SBC regulations of ACA, IBC will require renewals changes submitted 15 days prior to anniversary, no exceptions. Also, IBC will process off-anniversary plan changes 75 from date of notice.
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Launches New HCR website & guide for Individuals
IBC has recently launched a website and corresponding guide to HCR for current and prospective individuals members. These materials were specifically created to assist individuals who will be navigating the new, government-run Marketplace.
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11.09.2012
Retroactive Termination policy (REMINDER)
This reminder to release made last year, IBC changed their retroactive termination policy from 60 days plus current, to 30 days plus current. This means employers should be prompt with submitting their terminations, as IBC will not go beyond 60 days.
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09.14.2012
Employers should prepare to report cost-of-coverage information
Employers issing W2 forms to employees in January 2013 for the 2012 tax year are required per PPACA to disclose total cost of their employee health coverage on W2. Those who file 250 or fewer are not required under 2013 tax year.
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09.10.2012
FAQ: Medical Loss Ration (MLR) rebates - Members (modified)
MODIFIED (9/2012) FAQ for members, regarding the Medical Loss Ratio rebate distribution per health care reform.
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09.10.2012
Employer MLR responsibilities
IBC branded document that reviews the employer responsibilities regarding MLR rebates that were issued to large group customer back in late July. This document will help determine how funds will be used or distributed.
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08.24.2012
SBC Distribution Guide for Employers
This guide reviews the rules regarding SBC distribution. Required for NB or renewals after 9/23/12, IBC will distribute via member notice and ID card distribution, directing member to IBXpress access updated SBC & download.
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08.24.2012
Update on Uniform Summary of Benefits & Coverage
IBC releases guidance on SBC distribution. SBC are required for for renewal or NB as of 9/23/12. SBC's will be abailable on ROAM (for brokers) and IBXpress (for members and employers). IBC will send notices to members 30 days before renewal.
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07.05.2012
Sample member letter for MLR rebate
Sample letter to members, to be sent by IBC, to inform members of the MLR rebates. Employers will receive a similar letter and FAQ.
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07.05.2012
Sample employer letter for MLR rebate
Sample letter to employers, to be sent by IBC, to inform group leaders of the MLR rebates. Members will receive a similar letter and FAQ.
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07.03.2012
Medical Loss Ratio Update: Rebates
As previously communicated, IBC is issuing rebate checks to some large group and individual customers, which account for less than 1% of their client base. Checks will mail July 10 and we will be providing a list of affected clients.
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06.28.2012
Supreme Court’s Decision - IBC’s response
IBC releases their update regarding the landmark 5-4 ruling on PPACA, stating the individual mandate is within the power of Congress to impose as its a tax (at its core). Without this mandate, the other aspects of PPACA could not be funded.
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06.07.2012
Medical Loss Ration Update
All carriers had to report their MLR to government on June 1; and if they fell short issue rebates to affected customers. IBC will issue rebates in their 51+ market, having fallen short by 1.5%, <1% of their 3.1 million members.
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05.25.2012
Important updates to Women’s Preventative health services
As of 8/1/12, HHS is requiring insurers to eliminate member cost-sharing for women's preventative services. Religious & Safe harbor groups can be exempt but must submit a form by 6/8. IBC already covers 6 or the 8 services at no cost.
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