Blue Cross & Blue Shield of Florida Inc. paid the largest refund to policyholders and enrollees under the medical loss ratio provision in the Patient Protection and Affordable Care Act in 2013, according to the latest data.
The carrier had $10.1 million of refunds due in its home state as of June 30, according to data available from the Centers for Medicare and Medicaid Services and analyzed by SNL Insurance.
Under the MLR provision, carriers must issue refunds to customers if they spend less than 80 percent of the premiums they collect for plans sold on the individual and small group markets and less than 85 percent of plan premiums in the large group market on health care.
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