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To The Point Podcast: Carrier Premium Credits during COVID-19

 

In light of the fact that COVID-19 and stay-at-home orders have kept people at home, meaning claim utilization has been reduced significantly, several ancillary and some medical carriers are offering premium credits. While this cost reduction is certainly a positive gesture, to the extent that the refund or credit is considered a plan asset, it must be used in accordance with ERISA and fiduciary obligations. Listen to learn more about determining whether your credit is a plan asset, and your options from there.