MMC Benefits Handbook
On May 4, 2020, the US Department of Labor and US Department of the Treasury issued regulations regarding employee benefit plans in response to the COVID-19 National Emergency. The regulations suspend various plan administration deadlines and give employees/participants more time to file claims for benefits (including claims for reimbursement, such as run out period claims, under a Limited Purpose Health Care Flexible Spending Account) or appeal denied claims. If you have questions about how this regulatory guidance impacts your Limited Purpose Health Care Flexible Spending Account reimbursement claims, please contact Trion at +1 866 324 4087, any business day, 8:30 am to 5:30 pm, ET.
Claims Filing Deadline
The claims filing deadline is March 31 following the end of the plan year. For example, for the 2021 plan year, your eligible expenses must be incurred no later than December 31, 2021 and must be submitted to the Claims Administrator by March 31, 2022 (the claims filing deadline).
Explanation of Benefits
Explanation of Benefits shows the charges that were submitted, the amount paid and not paid, if any, and the amount you may need to pay, if any. For the Marsh & McLennan Companies $1,500 Deductible Plan or $2,850 Deductible Plan, the Explanation of Benefits also shows whether you have satisfied the deductible applicable to you (that is, the individual or family deductible, depending on your level of coverage) under the Marsh & McLennan Companies $1,500 Deductible Plan or $2,850 Deductible Plan.
A spending account that reimburses health care expenses, such as the Health Care Flexible Spending Account and the Limited Purpose Health Care Flexible Spending Account.
Expenses are treated as having been incurred when the care or service is provided, not when you are billed or pay for it.
The plan year is January 1 through December 31.
Post-Deductible Qualified Medical Expenses
Other qualified medical expenses, including coinsurance and copayments, incurred after you have satisfied the deductible applicable to you (that is, the individual or family deductible, depending on your level of coverage) under the Marsh & McLennan Companies $1,500 Deductible Plan or $2,850 Deductible Plan.
The run-out period is the time period allowed after the end of the plan year during which you can submit claims for reimbursement of eligible expenses incurred during the plan year. The run-out period for the 2021 plan year is January 1, 2022 through March 31, 2022.
Substantiation means to prove or support that a purchase made with the Prepaid MasterCard® is a qualified health care expense in compliance with IRS rules. Substantiation consists of providing documentation such as an Explanation of Benefits or itemized statements/receipts to verify that your purchases were eligible expenses.