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 rebate checks average about $70 […]

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Opponents of Obamacare beware–the refund checks are coming

Here is a warning.  If you run into Pat Hancock in the Hilton Head Island area of South Carolina, don’t say anything bad about Obamacare–she’ll take your head off. As far as she’s concerned the Prez just sent her a check for $405.  That was the amount of the refund her health insurance company sent

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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 the healthcare reform is hurting

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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 story below indicates, South Carolinians

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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 ratio went into effect in

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