The Centers for Medicare & Medicaid Services (CMS) reports that consumers will receive more than $330 million from insurers that did not meet the medical loss ratio requirement for the 2013 policy year. Rebates must be paid by August 1, 2014. The report touts the success of the MLR rule, showing more consumers are insured by insurers that meet their MLR target, increased estimated consumer premium savings, and declines in insurer-reported administrative costs and profits as a percentage of premiums. Department of Health and Human Services Secretary Burwell stated in a press release that, “We are continuing our work on building a sustainable long-term system, and provisions such as the 80/20 rule are providing Americans with immediate savings and helping to bring transparency and accountability to the insurance market over the long term.” Historical reports of rebated by state and market are available here.
