Anthem Issues MLR Rebates
Anthem recently announced that due to better than expected claims results, along with implemented cost-saving measures, their Small Group Medical Loss Ratio dropped below 80 percent over the 2015-2017 period. The Affordable Care Act (ACA) requires health insurers to report medical loss ratios (MLR), which are the percentage of premiums that insurers spend on medical care (including claims and activities that improve health care quality). Health insurance issuers must meet a minimum MLR of 80% in the fully insured Small Group market and 85% in the fully insured Large Group market.
Small Group clients who were enrolled in the 2017 calendar year will receive MLR rebate checks from Anthem. The annualized rebates average approximately $142 per member and paid to the employer by September 8th. Anthem is required to mail letters to employees by September 18, 2018.
Rebate checks are distributed directly to the employer and the employer has the option to either distribute rebates to employees or apply the rebate towards future premiums. CalCOBRA members will receive a check directly from Anthem.
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The RBG Team is Your Anthem Resource Expert