The couple started dating in 2010, broke up early this May and reconciled a few weeks later, the report said.
"They have a crazy relationship," an insider told the magazine. "They break up and make up."
Vergara is one of the stars of the ABC sitcom "Modern Family."
Loeb is a businessman who considered a 2010 run for Florida's state senate.
Notable deaths of 2014 [PHOTOS]