Anyone else receive a Medical Loss Ratio rebate?

[joeea]

I just received a nice little rebate from my insurer due to the Medical Loss Ratio required by my state.

The accompanying notice says that since the ACA allows individual states to require a higher ratio than 80%, that my insurer "must meet a 88% Medical Loss Ratio, meaning that 88% of premiums must be spent on medical services and activities to improve health care quality, and no more than 12% of premiums may be spent on administrative costs."

Apparently, this insurer spent only 83.9% last year on these activities.

So I got a rebate equal to more than 1 month's worth of premiums.

Anyone else get lucky this year?

[Plantman]

That's funny, I was just thinking about this earlier today! I have received them in two previous years but nothing so far this year. Keeping my fingers crossed.

[scrabbler1]

I received 2 checks in 2012 for MLR, as I changed insurance companies in 2011. The two together came out to about one month's worth of premium for the second, cheaper premium. I have never received any of these checks since then.

[joeea]

Quote:

Originally Posted by Plantman That's funny, I was just thinking about this earlier today! I have received them in two previous years but nothing so far this year. Keeping my fingers crossed.

I'm pretty sure August 30 is the deadline.
Sorry.

[NoMoreJob]

We've received them a couple of times since the inception of the ACA. I don't believe we've received any for the last couple of years.

[audreyh1]

We haven’t received any since being on ACÁ plans, but I think DH and I both received something the year prior to starting ACÁ.

[NoMoreJob]

Just received a note from our agent that my wife will likely receive a rebate for 2018 from her ACA policy carrier.

[candrew]

Received our rebate yesterday amounting to 2 months of premium payments during 2017! Just so happened to coincide with my birthday!!

[Spock]

Got a letter last week.
Since they are only applying it to future premiums and not cashing it out, it will take just under 4 years at today's premiums to use up the rebate.

[Beldar]

Yes, we received a credit notice last month, so the next 2 months ACA premiums will be "free". Neat.

_B