(a) For each contract year, each Part D sponsor must submit a report to CMS, in a timeframe and manner specified by CMS, which includes but is not limited to the data needed by the Part D sponsor to calculate and verify the MLR and remittance amount, if any, for each contract, such as incurred claims, total revenue, costs for quality improving activities, non-claims costs, taxes, licensing and regulatory fees, and any remittance owed to CMS under Sec. 423.2410.
(b) Total revenue reported as part of the MLR report must be net of all projected reconciliations.
(c) The MLR will be reported once, and will not be reopened as a result of any payment reconciliation processes.