In Florida, Golden Rule and Humana among health insurers expected to owe biggest rebates [The Orlando Sentinel, Fla.]
By Marni Jameson, The Orlando Sentinel, Fla. | |
McClatchy-Tribune Information Services |
The estimated
The rule requires that insurance plans apply at least 80 percent of their premium dollars toward health-care expenses, and no more than 20 percent on administrative and marketing costs, and profit.
If they don't meet that medical loss ratio (known as the MLR), they must issue a refund.
Topping the list of insurance companies that will likely send rebates to individuals in August are
However, in Florida's small-group market, currently defined as companies with up to 50 employees,
UnitedHealthcare estimates it will owe rebates of
This report did not specify which insurers could owe rebates in the large-group market.
All rebate amounts may change, insurance experts cautioned.
The report based its analysis on estimates insurers provided to state insurance commissioners on
The
"It is premature to speculate on [health-insurance] rebates prior to the
"Insurers have always supported policies that encourage greater quality, efficiency and consumer value," said
Nonetheless, advocates for the new rule see the news as progress.
"This report shows that the new MLR rule is beginning to improve value at some of Florida's largest insurance companies," said
"We are so pleased to see that small businesses and consumers will be able to put their hard-earned money back into their pockets," said
The full report is available at yourhealthsecurity.org.
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