Insurers have until Sept. 30 to issue ACA Medical Loss Ratio rebates for 2024. The Medical Loss Ratio mandates insurance companies spend at least 80% or 85% of their premium dollars on medical care, not administrative expenses or profits. If a company does not meet this requirement, it will have to pay back its members the following year.
Becker’s has been tracking how much insurance companies owe.
Here are three moves to watch:
- UnitedHealthcare is set to return $359 million in rebates by the deadline.
- Massachusetts approved $75.6 million in rebates from BCBS Massachusetts, Fallon Health, Harvard Pilgrim Health Care, Mass General Brigham Health Plan and UnitedHealthcare. The rebates span over 350,000 people.
- Centene subsidiary Ambetter from Home State Health will pay Missourians $87.5 million.
