Friday, November 11, 2011

Refunds of Health Insurance Premiums

Think health reform does nothing to curtail the rising cost of health insurance? Think again. New York State has ordered insurers to reimburse their customers a total of $114.5 million. Remember the medical loss ratio, the percentage of premium dollars spent on health care? Well, insurers whose medical loss ratio is too low have to pay refunds to their insureds. It's brand new and we're just starting to see how it works. So far, so good. Jennifer

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