What Does My Premium Payment Pay For?

Re-posted on 6-18-20

Yes, we agree that health insurance is very expensive these days.  It’s important to note, however, there is a clause in the Affordable Care Act that is called the MLR – Medical Loss Ratio.

Call For FREE Help (702) 898-0554

RePost - Price of Health Insurance and the "Medical Loss Ratio"

This MLR states that when a family or individual buys a medical plan, 80% of every dollar collected and paid to an insurance company MUST pay medical claims. So that leaves the insurance company to pay ALL of their expenses with the remaining 20%.

We read an article today stating that the residents in Florida, almost 1 million customers, will be receiving a $65 refund because of this rule. The insurance company collected too much money in premiums, and had to refund their customers the overage collected.

Call Us For Assistance

(702) 898-0554

Get a Fast & Free Online Quote

Seeking Guidance With Nevada Insurance Enrollment

Navigating through the many options of insurance can be confusing and chaotic, but speaking with a locally licensed insurance agent will help you to obtain the right coverage you need. You’ll have the peace of mind knowing that you are adequately insured when life complications arise. We work hard to find the most competitive quotes for your needs. Contact us today to begin the process of finding the best insurance plan for your family.

Related Articles:

What Is Covered by The Affordable Care Act (ACA) Health Care Plans

What You Need to Know About Obamacare Health Insurance

How Are Health Insurance Premium Rates Determined?

Health Insurance plan “Unaffordable”? Need Exemption?

Read More: Health Insurance in Las Vegas, Nevada

Call us for assistance

(702) 898-0554

Serving Las Vegas, Henderson, North Las Vegas and the entire state of Nevada

Three Ways to Enroll

1).  Apply by Phone

(702) 898-0554

2).  Apply in Person

(by appointment ONLY)

Please call to make an appointment

3).  Online Quote

Path Image - Insurance is confusing

Search This Website

Enter a search term here

Search
Generic filters
Exact matches only
Search in title
Search in content

Why Go Anywhere Else?

When you can have an experienced and caring professional guide you.

Insurance Quotes | Plans | Coverage
Nevada Insurance Enrollment small logo - Insurance Agency in Las Vegas, Nevada
Read why it’s smart to use an insurance agent

Nevada Insurance Quotes

Serving Las Vegas, Henderson, North Las Vegas and the entire State of Nevada

Auto | Homeowners | Health | Life | Medicare | Funeral / Cremation | Group Health | Short Term | Dental & Vision | Travel Insurance

Authorized Agent for: Nevada Health Link, Anthem Blue Cross & Blue Shield, Sierra Health & Life, Health Plan of Nevada, Aetna, Prominence, Hometown Health, Ambetter/Silver Summit

Farmers Insurance – Shelly Rogers Agency in Las Vegas, Nevada