Consumers Saved $3.9B on Premiums in 2012   Leave a comment

Insightful article…the more I read it, the more I’m tempted to ask conservatives (and Republicans, for that matter) why they still believe the 2010 Affordable Care Act is a failure, in their eyes….of course, the more they complain, the more it becomes apparent the ACA is beginning to show real dividends in improving health care across the country.

Rural Nevada Democratic Caucus

Health care law will provide families an average of $100 back in premium rebates

Today, the Department of Health and Human Services (HHS) announces that nationwide, 77.8 million consumers saved $3.4 billion up front on their premiums as insurance companies operated more efficiently.  Additionally, consumers nationwide will save $500 million in rebates, with 8.5 million enrollees due to receive an average rebate of around $100 per family.

Today’s report includes the 2012 health insurer data required under the Affordable Care Act’s Medical Loss Ratio, or “80/20 rule.”  The report shows that, compared to 2011, more insurers are meeting this standard and spending more of their premium dollars directly toward patient care and quality, and not red tape and bonuses.

Created through the Affordable Care Act, the rule requires insurers to spend at least 80 cents of every premium dollar on patient care and quality improvement.  If they spend a higher…

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Posted June 24, 2013 by Matthew in Uncategorized

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