Rebates, Rate Hike Limits Cost Insurers $2B Under ACA

Law360, New York (September 11, 2012, 3:20 PM EDT) -- Insurance companies have been forced to pay $1.1 billion in consumer rebates and limit rate increases by an additional $1 billion because of the Affordable Care Act's medical loss ratio and rate review process, the U.S. Department of Health and Human Services said Tuesday.

In an HHS report examining consumer savings from the law, the department said 13 million people have received more than $1.1 billion from companies who failed to spend the required 80 percent of premiums on health care rather than overhead. HHS is...
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