Health care reform medical loss ratio study The Commonwealth Fund, an independent foundation based in New York that researchers health care policies, has released a new report concerning the medical loss ratio (MLR) provision of the Affordable Care Act. The MLR provision requires insurance companies to spend no less than 80% of the money they collect from premiums on improving medical care. If insurers cannot meet this standard, the money must be returned to policyholders. The provision took effect in 2011, but has been mired in litigation and bureaucracy, which…
Read MoreTag: MLR
Agents celebrate over MLR vote by state commissioner
The National Association of Insurance Commissioners (NAIC) has recommended that states vote for legislation that will provide insurance brokers and agents with protection for their commissions from the medical loss ratio (MLR) of the new federal healthcare law’s expense cap which has been applied to medical insurers. The NAIC advisors task force for health insurance voted to support H.R. 1206, which has been called the Professional Health Insurance Advisors Act of 2011. Rep. Mike Rogers (R-Mich) introduced this Act in Congress. The Patient Protection and Affordable Care Act within the…
Read More