savings

Health care law saved an estimated $2.1 billion for consumers

The health care law – the Affordable Care Act – has saved consumers an estimated $2.1 billion on health insurance premiums according to a new report released today by the Department of Health and Human Services.  For the first time ever, new rate review rules in the health care law prevent insurance companies in all states from raising rates with no accountability or transparency.  To date, rate review has helped save an estimated $1 billion for Americans.  Additionally, the law’s Medical Loss Ratio (or 80/20) rule is helping deliver rebates worth $1.1 billion to nearly 13 million consumers.