Original source: https://www.modernhealthcare.com/insurance/short-term-health-plans-spend-little-medical-care
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Modern Healthcare (08/06/19) Livingston, Shelby
The National Association of Insurance Commissioners (NAIC) recently released its 2018 Accident and Health Policy Report, that impacts medical-loss ratios, or even the proportion of premiums spent on medial asserts. Of the five medical insurance companies that collect the premiums from short term insurance policies, the typical loss percentage was 39.2 percent, meaning 39 pennies of ever $1 collected in premiums was spent on healthcare and the remainder on administrative expenditures or kept as profit. In contrast, the loss ratio was 73% one of comprehensive major medical plans last year, purchased by individuals. The reduction ratios for short-term wellness plans are lower because they do not offer as many advantages as Affordable Care Act-compliant plans, which, unlike short-term plans, must satisfy a minimum medical-loss ratio of 80% or pay enrollees refunds. The NAIC’s report demonstrates that about 86,600 people were enrolled in plans in 2018, because most short-term plans are sold through institutions exempt from 35, but this figure is higher…. Read More
We appreciate you! And please email us if you need assistance when dealing with your insurance carrier. NO claim, NO fee!
Original source: https://www.modernhealthcare.com/insurance/short-term-health-plans-spend-little-medical-care
I search the net each day to guide you to realize to the importance of getting a Property Damage Adjustment Consultant on your side. Look at this web post we ran across.
Modern Healthcare (08/06/19) Livingston, Shelby
The National Association of Insurance Commissioners (NAIC) recently released its 2018 Accident and Health Policy Report, that impacts medical-loss ratios, or even the proportion of premiums spent on medial asserts. Of the five medical insurance companies that collect the premiums from short term insurance policies, the typical loss percentage was 39.2 percent, meaning 39 pennies of ever $1 collected in premiums was spent on healthcare and the remainder on administrative expenditures or kept as profit. In contrast, the loss ratio was 73% one of comprehensive major medical plans last year, purchased by individuals. The reduction ratios for short-term wellness plans are lower because they do not offer as many advantages as Affordable Care Act-compliant plans, which, unlike short-term plans, must satisfy a minimum medical-loss ratio of 80% or pay enrollees refunds. The NAIC’s report demonstrates that about 86,600 people were enrolled in plans in 2018, because most short-term plans are sold through institutions exempt from 35, but this figure is higher…. Read More
We appreciate you! And please email us if you need assistance when dealing with your insurance carrier. NO claim, NO fee!