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Supplemental Employee Retirement Plan Costs Claimed by Transamerica Occidental Life Insurance Company

Issued on  | Posted on  | Report number: A-07-02-03016

Report Materials

EXECUTIVE SUMMARY:

The purpose of our review was to determine the allowability of $180,244 costs claimed for Medicare reimbursement by Transamerica Occidental Life Insurance Company (TOLIC).  The $180,244 represents Supplemental Employee Retirement Plan (SERP) costs that will be incurred subsequent to the termination of TOLIC's Medicare contract.  The review showed that the claimed costs are unallowable for Medicare reimbursement and we recommend that TOLIC withdraw the claim.  The TOLIC disagreed that the SERP costs were unallowable.

Report Type
Audit
HHS Agencies
Centers for Medicare and Medicaid Services
Issue Areas
-
Target Groups
-
Financial Groups
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Notice

This report may be subject to section 5274 of the National Defense Authorization Act Fiscal Year 2023, 117 Pub. L. 263.