Prior to 2011, there was no rule that required insurers to provide enrollees with a specified minimum value in health spending in return for each dollar spent on premiums. However, thanks to the medical loss ratio mandate, insurers began using a much higher percentage of premiums on actual health spending, according to a new Robert Wood Johnson Foundation report.
Predictions that the health insurance exchanges would significantly shift the insurance business toward an individual market have yet to come true. In fact, the largest gains in health coverage are from increased enrollment in employer-based plans, according to a new study from Rand Corp. that was published in the journal Health Affairs.
More than 15 million people had an individual health plan as of last year, which was 4.8 million more people than 2013--a 46 percent increase, according to a new Kaiser Family Foundation analysis.
Insurers need to update their business models if they want to thrive amid "a fast growing wave of consumerism," according to a new report from healthcare investment firm Psilos Group.
Almost 20 percent of consumers with individual plans said their insurance was no longer offered because it didn't meet Affordable Care Act requirements.
UnitedHealth has announced that it will exit the individual market in California by the end of the year, leaving about 8,000 individual members to find new coverage, according to the Los Angeles Times.
Aetna is leaving the California individual insurance market at the end of the year, the insurer announced Saturday.
The reform law's medical-loss ratio provision has forced insurers to rebate consumers about $1.1 billion and cut $350 million in administrative expenses, leading to total premium savings of $1.45 billion, according to a report from the Commonwealth Fund.
WellPoint's interim chief executive is making some major changes to the second largest health insurer by reorganizing the company into four business units.
It's time for health insurance companies to stop wondering whether reform will actually come to fruition. It's here, it's staying and it's time to hit the ground running.