Texas legislators are urging the state’s Insurance Commissioner, Eleanor Kitzman, to withdraw an application for exemption from the medical loss ratio provision of the Affordable Care Act. The provision requires health insurers to pay no less than 80% of the money they collect through premiums on improving medical care. The provision has been a point of contention for insurers, who have fled some states that were unable to attain a waiver from the rule. Commissioner Kitzman is looking for an exemption to prevent an exodus of insurers from the state.…
Read MoreTag: insurance waiver
Health insurers required spending law or your check is in the mail!
A year has passed since the health care reform bill, the Affordable Care Act, was signed into law. Many used the opportunity to hold events that publicized the perceived “broken” promises of the law, but in Illinois, insurance officials are arguing that consumers are better off now than they were without it. The Illinois Insurance Department Director, Michael McRath, has said that in the next year some consumers will be receiving rebates as a result of the law’s requirements. “There is some disruption and definitely some discomfort among insurers,” says…
Read More