Rebates must be remitted quarterly within 90 days and fully disclosed
What the document says“on a quarterly basis, to the group health plan or, in the case of a health insurance issuer offering group health insurance coverage in connection with a group health plan, to the group health insurance issuer on behalf of the plan, not later than 90 days after the end of each quarter; or”
The money must be sent each quarter, no later than 90 days after the quarter ends, or as soon as practicable and within 90 days of notice where a prior quarter was underpaid. It must be fully disclosed and enumerated to the plan or issuer, and any excess must be returned to the covered service provider where an audit shows too much was paid over. The Secretary may issue regulations on the remittance procedures, on audits and on the timing, manner and content of the disclosure.
What the document actually says“on a quarterly basis, to the group health plan or, in the case of a health insurance issuer offering group health insurance coverage in connection with a group health plan, to the group health insurance issuer on behalf of the plan, not later than 90 days after the end of each quarter; or”
The money goes to the plan every three months. It must arrive no later than 90 days after the quarter ends.
Money held for a year earns interest for whoever holds it. A set clock stops that. Short payments must be made up too.
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