The Patient Protection and Affordable Care Act's medical loss ratio rule saved consumers in the individual market an estimated $2.1 billion last year — the bulk of it on lower premiums costs, new analysis finds.
The MLR provision, which took effect in 2011, requires insurance companies to spend no less than 80 percent to 85 percent of collected premiums on actual medical care.
The analysis out Thursday from the Kaiser Family Foundation found that premiums for individual health insurance would have been $1.9 billion higher in 2012 if the MLR provision had not been in effect.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
