Saturday, July 14, 2012

Company Check Up

How well is your health insurance company doing under the Obamacare regime and MLR? The mandated Medical Loss Ratio was intended to keep premiums down and penalize carriers that were viewed as greedy.        

As we have stated before, regulating premiums AND "profit" margins is nonsensical in a competitive market place but try telling that to the folks in Washington who have never held a real job.

None the less, if you want to know how carriers in your state have done, the architects of the final solution to eliminate free choice with regard to health insurance are providing data at HealthCare.

We decided to look at some Georgia health insurance companies and see how they fared under Obamacare MLR.

What follows is a summation by carrier name, individual MLR, rebate, small group MLR, small group rebate.

Company Individual MLR Rebate Group MLR Rebate
Blue Cross83.3%082.6%$0
United HealthcareNA 084.0%0

Missing from the report are Assurant, Aetna, Celtic and Cigna. If a carrier has fewer than 1000 policyholders for that particular line of coverage they are not subject to MLR rules.

United has fewer than 1000 individual major medical policyholders and are not subject to MLR for that line, but are subject to MLR for small group.

If you were covered by an individual major medical or small group plan from any of the above carriers only those with a Coventry individual plan got a rebate.

Don't spend your $44 in one place.

Obamacare is supposed to bring down the cost of health insurance.

How is this working for you?
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