medical loss ratio

S.C. consumers due $6.2M in health insurance rebates thanks to Obamacare

Columbia Regional Business ReportBy Bill Poovey bpoovey@scbiznews.comPublished June 25, 2013   More than 119,000 South Carolina consumers whose health insurers failed to spend enough premium dollars on patient care are due to get rebates totaling $6.2 million from the insurers. The U.S. Department of Health and Human Services said the…

Refunds that almost didn’t happen

By today all health insurance companies were to have notified individual policy holders and small businesses about premium refunds or credits they were due thanks to Obamacare.  In my July 18th blog I talked about these refunds and how they could finally demonstrate to the public that healthcare reform was…

House voting to keep their healthcare perks

The U.S. House is scheduled to take their 31stvote on changing, delaying, defunding or terminating Obamacare today.  The outcome of today’s repeal vote isn’t in questions because every other vote taken on the issue has passed almost exclusively along party lines. Obamacare opponents in the House will again claim that…

Obamacare delivers for South Carolina citizens and businesses once again

One important part of Obamacare passed in 2010 was a thing called the medical loss ratio.  Essentially it says that if at least 80% of the health insurance premiums collected by an insurance company do not go to paying for medical services then the policyholder is due a refund.  As the…

377 Million reasons for small business to like Obamacare

One of the provisions of the Affordable Care Act–Obamacare–is the requirement that 80% to 85% of health insurance premiums go toward actual medical costs and not to overhead and profit of the insurers.  Otherwise the policy holder is due a refund at the end of the year. This medical loss…

Small Business Chamber December Newsletter

Tell Congress to stop new 1099 requirement The new health care law, the Affordable Care Act, has tremendous benefits for small businesses, particularly the tax credits and health insurance exchanges. But the 1099 provision, which has nothing to do with healthcare reform and was included only as a revenue-raising measure,…