The state’s Insurance Department is looking for approval from the federal government to phase in the new requirement slowly over time. Initially, regulators had sought to be exempt from the medical loss ratio provision entirely. Their efforts were rejected by the Department of Health and Human Services, the agency overseeing the enactment of the Affordable Care Act, on grounds that insurers could meet the standard with no trouble. The state has been laboring for an alternative to the rule, claiming that the state’s insurance industry would be destabilized if the insurers were to succumb to the law.

Several consumer advocacy groups have decried the efforts of the Department of Insurance. The money returned to consumers could have serious, beneficial implications for the state’s economy and redeem some of the trust lost between policyholders and their insurance companies.

The Department of Health and Human Services is expected to make a determination on the matter within the next two weeks.

Check out more insurance news and updates for consumers and industry professionals.

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4. Louisiana insurance rebates remain unclaimed by policyholders eligible to claim the money
5. Texas Consumer Health Assistance Program to come to an end after a short year of operations

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