A new report from the U.S. Department of Health and Human Services estimates health-care consumers have saved an estimated $2.1 billion on premiums. The federal Affordable Care Act has rate-review rules that prohibit insurance companies in all states from increasing rates without accountability. Since last September, insurance companies that want to raise rates by 10 percent or more have been required to submit their justifications for rate review. That has prevented roughly $1 billion in rate hikes, according to the report.
The Affordable Care Act’s medical loss ratio rule has provided rebates worth $1.1 billion to almost 13 million consumers, according to the report. The 80/20 rule requires insurance companies to disclose how much of premium dollars they spend on health-care services and how much on administration. They generally must spend 80 percent on care (85 percent in the large group market) and 20 percent on administration. If they spend less than 80 percent on medical care and quality, they must return the portion of premium dollars that exceeded the limit to consumers.
Insurance companies were required to submit their annual medical loss ratio reports for 2011 by June 1, 2012. Rebates must be paid by Aug. 1 each year, either in a payment or a reduction in future premiums.
“The health care law is holding insurance companies accountable and saving billions of dollars for families across the country,” Health and Human Services Secretary Kathleen Sebelius said in a statement today. “Thanks to the law, our health care system is more transparent and more competitive, and that’s saving Americans real money.”
Forty-two states have used rate-review grants from the federal government to strengthen their review processes, Sebelius said. New York is one of 30 states whose rate-review processes have been deemed effective.
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When using real estate as an investment, you will want to
be sure of your goals. Figure out whether you are trying to meet your
long-term goals or your short-term ones. If the investment under consideration does not meet all of your most
important goals, move on to a better opportunity. People make the mistake of not ensuring their goals are met and wind up being unhappy with their investment.
Know the kinds of homes that are situated in the area you
hope to buy a house in. The proves essential, because you might not want, or be able to even afford, the nicest, largest house in the
area. This is due to the fact that smaller houses tend to bring down the value
of larger ones.
Having five or more years of experience is something an appraiser
should have if you’re going to hire one when you’re purchasing real estate.
Avoid hiring an appraiser that came recommend to
you from a real estate agent. You will have to deal with conflicting interests.
Look for an appraiser with a state license instead.
Before you start the process of buying a home, research your credit report.
Once you get your hands on your credit report, spend
some time looking through it and if you spot any
errors, report it right away. You will need to have your credit in good shape
when starting the process of buying a home as this is what helps you secure a loan.
Consider where you see yourself in the future when
shopping for a home. Right now you may be childless, but it doesn’t hurt to consider things like school districts if you think you may remain in the house lone enough to have children.