Posts Tagged what is Medical Loss Ratio?

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Health Insurance Premiums Are Refunded to 8.5 Million Enrollees

Insurance Premium Rebates from Obamacare reach Consumers

The Department of Health and Human Services (HHS) announced recently that nationwide, 77.8 million consumers saved $3.4 billion up front on their premiums as insurance companies operated more efficiently.  Additionally, consumers nationwide will save $500 million in rebates, with 8.5 million enrollees due to receive an average rebate of around $100 per family.

This report includes the 2012 health insurer data required under the Affordable Care Act’s Medical Loss Ratio, or “80/20 rule.”  The report shows that, compared to 2011, more insurers are meeting this standard and spending more of their premium dollars directly toward patient care and quality, and not red tape and bonuses.

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