Major Consumer Protection Policy Kicks In Today
Today, the provision known as the Medical Loss Ration will drop. This provision requires health insurance companies to spend 80% of their consumers’ premiums on medical care, as opposed to marketing or overhead costs. If they do not do this, the companies will be required to send back a rebate check detailing the amount they did not spend on medical care.
The Department of Health and Human Services has detailed the parameters for qualification as a medical expenditure, though these rules are still being “fine-tuned”.
Posted on Friday, December 2nd, 2011 at 10:17 pm. You can subscribe via RSS 2.0 feed to this post's comments. You can comment below. Your comments will appear immediately, but the author reserves the right to delete innapropriate comments.