The amount is the second-largest since insurers began issuing rebates under the ACA’s MLR provision in 2012.
Under the ACA, the amount of premium income insurers use for administrative purposes is limited, with the goal being that most premium revenue is being used to cover members’ medical costs.
While last year insurers issued a record $2.5 billion in MLR rebates, this year’s totals are still more than 50 percent higher than 2019’s.
Read more here.
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