Indiana’s request for exemption from the medical loss ratio rule is denied

Earlier in the year, Indiana’s Department of Insurance submitted an official request to the federal government seeking to free the state’s insurance companies from the medical loss ratio requirement of the Affordable Care Act. The health care law dictates that all insurers should spend no less than 80% of the money they collect on premiums on improving medical care. According to the law, if companies fail to meet the requirement, they must return the money to consumers. Indiana’s request for an exemption from the rule has been denied by the…

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Indiana insurance commissioner pleas for MLR exemption as insurers flee the state

According to the Affordable Care Act (ACA), the sweeping health care reform signed into law last year, U.S. insurers are required to spend a minimum of 80% of the premiums they collect on patient care. If they do not meet this new standard, they will be forced to issue rebates to policyholders to cover the shortfall. This provision of the controversial health care law has been criticized by the nation’s insurance companies, with many claiming that it impedes their ability to not only compete in the market but also generate…

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