Federal regulation mandates that insurance providers and employer-based health plans to fully insured and self-funded—submit yearly reports to the Centers for Medicare & Medicaid Services (CMS) with respect to prescription medication and medical spending.
Employer premium contribution data for the 2023 calendar year (January 1, 2023 – December 31, 2023) must now be supplied in accordance with the regulation. We require your assistance or the assistance of your clients, in order for Independent Health to meet these reporting requirements.
Action required for fully insured plans
The division of plan premiums paid by the employer group versus the subscriber must be disclosed by Independent Health. As a result, for the calendar year 2023, all fully insured groups are required to contribute, on average, the employer shared portion of Independent Health’s medical plan coverage.
- 2023 Required Reporting DocuSign Form for Fully Insured Plans
- 2023 Required Reporting Fillable PDF Form for Fully Insured Plans
Action required for self-funded plans
By June 1, 2024, self-funded employer organizations must submit their own 2023 reporting.
- 2023 Required Reporting DocuSign Form for Self-Funded Plans
- 2023 Required Reporting Fillable PDF Form for Self-Funded Plans
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We are dedicated to providing exceptional service, so please do not hesitate to contact our dedicated Total Benefit Solutions health insurance specialists at (215)-355-2121 or fill out the contact form below. We are available to answer any questions or address any concerns you may have.