One of the goals of the Affordable Care Act passed last year is to strengthen protection for consumers and to assure a good value for their health dollar. The U.S. Department of Health and Human Services issued regulations requiring insurers to spend a certain percentage of premiums on actual health care, or pay a rebate consumers. The Act allows states to ask for an adjustment to this percentage in the small group insurance market if data show that the requirement will destabilize the market.
At the request of insurance companies, the Missouri Department of Insurance held a hearing on December 28th to discuss this issue. To read the testimony the Missouri Budget Project presented at this hearing, click here.
