IN THIS ISSUE

June marks the start of a new direction for Better Health News. We all want to live healthier lives, but CanDrugstore.com is about saving you money when it comes to your healthcare dollars.

So, it's time we stepped up and gave you the real health information you need to save more.

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The Medical Loss Ratio (MLR) is a guideline for your health insurance.

In essence, the MLR is the amount of your health insurance premiums that go towards paying for actual health benefits and care. This is opposed to money spent on marketing, salaries, and other overhead costs.

Weirdly enough, the acronym “Medical Loss Ratio” was coined by the insurance companies themselves. The “loss” part refers to the money the insurer loses when they have to pay out for medical care.

Wait, what?

Why is that a loss? Isn’t that a service?

Semantics aside, the MLR took center-stage with Obama’s Affordable Care Act. Here’s what you should know about the Medical Loss Ratio.

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Now that Medical Loss Ratio changes are coming into effect, insurance providers have some hard choices to make if they fall below the 80% spending requirement.

Do they write you a check? Do they take the hit and lower your premiums?

The overall goal of the legislation was efficiency and accountability. Now, accountability is taken care of with reports that insurance companies have to publish. But, what about efficiency?

Turns out that insurance companies have more options than first imagined. Here’s how they can change to fit into the new efficiency requirements put in place by the Affordable Care Act.

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