HHS rejects Indiana request for medical loss ratio waiver

Indiana has finally received a response from the federal government regarding the state’s request for a waiver from the Affordable Care Act’s medical loss ratio provision. The provision requires insurance companies to pay at least 80% of the money they collect from premiums on improving medical care. Indiana had sought an exemption from the rule, claiming that it served as a detriment to the state’s insurance companies. The Department of Health and Human Services, however, has rejected the state’s request for a waiver. The state may have failed to obtain…

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Auto insurance data spat could lead...
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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 to lose five different health insurers

Five individual health insurance companies, including two of the largest in the country, have chosen to stop selling their policies in Indiana, leading the Indiana Department of Insurance to ask that certain elements of the reform law of 2010 be phased in. The third and fifth largest health insurance companies in the United States, Aetna Inc., from Hartford, and Cigna Corp., from Philadelphia, have decided that they will no longer be taking part in the market for individual health insurance in Indiana. Moreover, American Community Mutual Insurance Co., from Michigan,…

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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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