McCarty asks Feds to reconsider medical loss ratio

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State Insurance Commissioner Kevin McCarty has asked federal officials to reconsider a decision that will place new requirements on health insurers in the individual market, reports the News Service of Florida. The U.S. Department of Health and Human Services last month rejected Florida’s proposal to gradually phase in what is known as a “medical loss ratio.” Such a ratio will require individual plans to spend 80 percent of the premiums they receive on health services. McCarty sent a letter to Washington last week arguing that requiring quick implementation of the ratio will “destabilize Florida’s individual health market.” Also, he argued that the spending requirement will lead insurers to reduce agent commissions.

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