Please send this letter to Representative Luetkemeyer and Senators Bond and McCaskill to ensure you will receive any refunds you may be due.
Make sure Missourians get our refunds!
Dear [Decision Maker],
Thanks to the Affordable Care Act, Missouri residents and small businesses who buy their own health insurance are due some $51 million in refunds this summer from insurers in the state. That’s significant savings, and I urge you to oppose any attempt to undermine the Medical Loss Ratio rule in the law that is delivering better value to residents.
A new report from Consumers Union, the policy and action arm of Consumer Reports, looked at the impact of the MLR rule on Missouri. Their findings show the law is providing real value to residents. You can get a copy of the report by using this link: YourHealthSecurity.org/Missouri_MLR_Report
Individuals and small businesses in Missouri will get significant refunds. Meanwhile, the top insurance companies in the state booked millions in profits last year, showing that they can continue to thrive under the law while delivering more value to customers.
Some of Consumers Union’s findings:
* Several of the top health insurance companies expect to pay millions to policyholders, led by Anthem Blue Cross & Blue Shield, which anticipates giving $9.3 million back to 50,612 policyholders. Golden Rule has the second highest rebate amount, estimated at $3.9 million owed to 27,610 individual market policyholders.
* Small businesses with 50 or fewer employees will also get significant refunds, a real help in this economy. Anthem BCBS again leads with rebates estimating $19.7 million to 10,500 small businesses and other groups. And Blue Cross Blue Shield of Kansas City estimates rebates of $5.5 million to 3,444 small businesses and other groups.
* The MLR rule encourages insurers to work smarter, spending less on overhead and more on customers’ medical care. In 2010, Anthem BCBS spent 66 percent of premiums on medical care. Last year it increased that to 76 percent. Golden Rule went from spending 62 percent of premiums on medical care to 79 percent.
* Meanwhile, the top insurance companies expecting to pay refunds recorded millions in profits last year, demonstrating they can continue to thrive in the state while delivering better value for residents.
Please take time to read the new Missouri report from Consumers Union, and oppose any attempts to undermine the MLR rule that helps deliver better health insurance value to residents.