Thursday, October 4, 2012
HHS: Health law saved consumers $2.1 billion on premiums
Posted by Linda H on 9:35:00 AM
Federal health officials touted the Affordable Care Act for saving consumers billions on their insurance premiums.
The figure — $2.1 billion saved since September 2011 — came from a Department of Health and Human Services (HHS) report released Tuesday.
In a statement, HHS Secretary Kathleen Sebelius attributed the savings to rules within the healthcare law that prevent insurers from raising rates "with no accountability or transparency." The $2.1 billion figure also includes savings from the law's "medical loss ratio," which mandates that insurers spend no less than 80 percent of premiums on care rather than administrative costs.
The figure — $2.1 billion saved since September 2011 — came from a Department of Health and Human Services (HHS) report released Tuesday.
In a statement, HHS Secretary Kathleen Sebelius attributed the savings to rules within the healthcare law that prevent insurers from raising rates "with no accountability or transparency." The $2.1 billion figure also includes savings from the law's "medical loss ratio," which mandates that insurers spend no less than 80 percent of premiums on care rather than administrative costs.
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