Wednesday, July 18, 2018

Check's in the mail

Well, it's that time of year again, when the temps soar, folks head to the beach and the pool, and insurance companies announce when they'll be cutting checks to comply with ObamaCare's Medical Loss Ration (MLR):

"Final Medical Loss Ratio (MLR) rebate reports for UnitedHealthcare customers will be available on the broker portal the week of Sept. 15, and customers will receive their rebate payments in the mail at the end of September."

In case you didn't know, the ACA requires carriers to pay out (at least) 80% of premiums collected in claims. For large groups, that requirement is 85%. Anything less and they have to send the difference to their insureds.

By the way, that MLR check's no bargain for insureds. As co-blogger Patrick pointed out a few years ago:

"MLR was designed to leverage insurance company profits and administrative expenses. Reality is all we have seen from MLR is an increase in profits and expenses."

True then, true now.
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