Medical Loss Ratio – this is a new law and requirement with health care reform. What this means is that Group insurance by law is required to spend 85% of every dollar collected on a medical claim, and 80% of every dollar collected on an Individual policy. This is a very big deal. The larger health insurance company’s were right around 70% MLR before this bill, so ultimately, what I can see is writing on the wall that people will start to lose their jobs, and other jobs will start to get outsourced to stay within that MLR of 80-85%.
Posted on: Thu, 01 Aug 2013 22:12:55 +0000
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