Will Humana Clients Receive a Rebate for 2012?

You may remember that many group and individual policyholders received rebates from their health insurance company last year. What about this year?
A brief review: The medical Loss Ratio provision of the Affordable Care Act (“Obamacare”) mandates that individual and small group health plans pay out claims that amount to at least 80% of the premiums they collect. (For large group it’s 85%). If they don’t meet this benchmark, they are required to issue a refund to policyholders.
Now, how this refund is calculated and determined is complex. For employer groups, rebate percentages are calculated based on the state in which the employer is located, the number employees on payroll for the rebate year, and the types of insurance plans offered. So rebate check amounts will vary and not every group will receive a rebate.
Humana is expecting that small group policy holders in Georgia will receive a rebate. Those in South Carolina will not. (But let’s be honest, there just aren’t that many in South Carolina who have Humana as they are not competitively priced there.)
If you have questions you can contact us. If you’d like to compare your group’s current coverage with other options out there, we can easily help you with that as well.