Posted on October 15, 2011
A key provision of the new healthcare law designed to promote affordable medical insurance is called the “minimum loss ratio” or MLR for short. It requires health insurance companies in the individual medical insurance marketplace to spend no less than 80% of every premium dollar collected from customers on claims. This includes expenses for medical services and supplies, such as hospitalization, surgery, office visits, x-ray, lab and prescription drugs. Along with claims, health insurance companies can also spend money on [...]
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