460 Report: What is it & How to Use It.

by Nichole Fuller, Employer Quality Ananlyst

For employer-users with the “HI Premium Benefit Specialist” role, the reconciliation report (also known as HI460, or the 460 Report) is available from the Reports page of the secure myASRS employer portal on a monthly basis. The reports for the most recent three months are available for download.  This report lists all retired and LTD members who have elected retired or COBRA coverage through their employer, as well as the Health Insurance Premium Benefit (HIPB) dollar amount to be applied towards each member’s monthly premiums. 

The report should be used to reconcile the amounts included in the payment for the total amount of HIPB for all eligible members. The ASRS sends this payment directly to employers around the 20th of each month and it is the employer’s responsibility to determine how to apply the HIPB for each member according to the employer’s rules and procedures.

The 460 Report also includes adjustments based on any updates the employer reports through a Health Insurance Premium Benefit Authorization or the Health Insurance Change Delete form. Sometimes these adjustments can be confusing, especially if they cover multiple months. If you have any questions regarding the 460 Report or the payment received, please reach out to your assigned Employer Relations contact or submit a secure message through your ASRS employer account. Please remember to include the member(s) first and last name and the last 4 digits of their Social Security number so we can more easily locate the member account in question.

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