Health insurance company Blue Shield of California announced that they will be sending rebate checks for certain health insurance plans that didn’t meet the Medical Loss Ratio in 2012. Some large and small employer groups along with individual and family plan members will receive rebates equivalent to .2% up to 3.4% of their 2012 premiums.
Health Net announced that under the Affordable Care Act Medical Loss Ratio requirements they would be issuing a rebate of .3% to their small groups in California based on 2012 expenditures. The letters dated May 30, 2013 are being sent to the small group administrators and subscribers.
Anthem Blue Cross of California will be notifying certain small employer groups that they will be receiving a rebate under the Affordable Care Acts’s Medical Loss Ratio (MLR). They missed the 80/20 target for small group plans overseen by DMHC. These plans consist of Health Maintenance Organizations (HMOs) that are overseen by DMHC.
Even though entry level base commissions have been cut, insurance companies have not abandoned all monetary incentives for their outside sales representatives.