MLR Refunds

[stuy119]

How big was your personal MLR check?

What about that of some of your clients?


Personally, my check was for $8.62.

I haven't heard from clients yet, but will inevitably when they are getting their checks, as they have in past years.

 

[somarco]

InsureBlog: How Much Did That Rebate Cost You?

2011 total premiums: $710 Billion
2011 rebates issued: $1.3 Billion

2012 total premiums: $760 Billion
2012 rebates issued: $500 Million

So, thanks to MLR, insurance companies took in an additional $50 Billion in 2012 and paid out $800 Million less in rebates.

Only in Washington is this "savings".

 

[RayNY]

You're looking at it all wrong Somarco,

($760BB-$500MM)-($710BB-$1.3BB)=$50.8BB

That $500 million is SAVINGS. $50,800,000,000.00 in extra premium but $500,000,000.00 less than it would have been.

We may look at it and go "hey, it's still $50,800,000,000.00 more than it was last year!", but politicians saved us almost a whole 1%! It could have been a $51,300,000,000.00 increase! They just saved us less than last year.

But in total, they have saved us almost $2BB in 2 years on $145BB in premium. That's over 1%, and that's impressive.

(On a serious note, this does not account for inflation, medical cost trends, increased/decreased enrollment, premium cost of mandated coverage, etc. There's quite a bit to do to get a level-playing-field comparison.)

 

[LOM58]

I got about $20 back. Not quite enough to give me that warm and fuzzy feeling.