My Medical Insurance - A Blog About Personal Care: Health Insurance Blog - Michigan Health Insurance Possibly Giving Rebates

Here are the latest updates for bryantmaroney.mymedical@blogger.com

"Health Insurance Blog" - 1 new article

Michigan Health Insurance Possibly Giving Rebates

Based on a federal health regulators ruling made earlier this week, about 340,000 Michigan residents who purchase their own individual health insurance could get as much as $89 million in rebates over the next 3 years. This comes after federal health regulators turned down Michigan’s request to be exempted from the new health care bill requirements.

The article “Health Insurance Providers Told to Repay Michigan Consumers” by Patricia Anstett on Freep.com says that health insurance companies who sell individual plans must spend at least $.80 of every dollar earned from premiums on medical care and no more than $.20 on salaries and other administrative costs. Many insurers are finding this very challenging and are looking for a way out.

By August, these insurance companies will be ordered to give consumers either a rebate check or a credit towards future products if their spending does not meet the 80/20 rule implemented by the new health care bill. Many insurers are going to find this very difficult and some will consider it next to impossible. Michigan health insurance could be facing some big changes as these new requirements go into effect. It’s possible the state will continue fighting to ensure they are not forced to do anything they do not agree with. Health care reform still has many battles ahead to face.

Written by Sam Tabes

Follow me on Twitter: https://twitter.com/#!/smartshopper78