Article or Case Law Search
Article or Case Law Search
Subrena Williams
HCS/430
December 22, 2014
Susan Kajfasz, Facilitator
Article or Case Law Search
What is case law? Case law are decisions that has been instituted by a judicial determination and some are placed into action by the body of legislators. Several case law events deals with the critical regulatory healthcare issues. This paper will inform the reader of how the issues relates to the nature, sources, and functions of the law.
Issues related to the nature, sources, and functions
“The Affordable Care Act was passed by Congress and then signed into law by the President on March 23; 2010. On June 28, 2012 the Supreme Court rendered a final decision to uphold the health care law”. (Healthcare.gov, 2012) The Affordable Healthcare Act affords new means to hold insurance companies responsible and offers strong selections for customers.
The Medical Loss Ratio (MLR) is known as a percentage that healthcare insurers must meet or better known as the MLR requirement. Healthcare insurers are required by the Affordable Care Act to produce a reimbursement to its consumers. The Medical Loss Ratio financial measurement used in the Affordable Care Act to help ensure that health plans provide significant value to users. The following is an example of how insurers use the MLR “if an insurer uses 80 cents out of every premium dollar to pay its customers' medical claims and activities that improve the quality of care; the company has a medical loss ratio of 80%. A medical loss ratio of 80% indicates that the insurer is using the remaining 20 cents of each premium dollar to pay overhead expenses, such as marketing, profits, salaries, administrative costs, and agent commissions. The Affordable Care Act sets minimum medical loss ratios for different markets, as do some state laws.” (Healthcare.gov, 2012)
The Affordable Care Act Law forces payer insurance policies for persons or groups to devote at least 80% of payments of medical
Subrena Williams
HCS/430
December 22, 2014
Susan Kajfasz, Facilitator
Article or Case Law Search
What is case law? Case law are decisions that has been instituted by a judicial determination and some are placed into action by the body of legislators. Several case law events deals with the critical regulatory healthcare issues. This paper will inform the reader of how the issues relates to the nature, sources, and functions of the law.
Issues related to the nature, sources, and functions
“The Affordable Care Act was passed by Congress and then signed into law by the President on March 23; 2010. On June 28, 2012 the Supreme Court rendered a final decision to uphold the health care law”. (Healthcare.gov, 2012) The Affordable Healthcare Act affords new means to hold insurance companies responsible and offers strong selections for customers.
The Medical Loss Ratio (MLR) is known as a percentage that healthcare insurers must meet or better known as the MLR requirement. Healthcare insurers are required by the Affordable Care Act to produce a reimbursement to its consumers. The Medical Loss Ratio financial measurement used in the Affordable Care Act to help ensure that health plans provide significant value to users. The following is an example of how insurers use the MLR “if an insurer uses 80 cents out of every premium dollar to pay its customers' medical claims and activities that improve the quality of care; the company has a medical loss ratio of 80%. A medical loss ratio of 80% indicates that the insurer is using the remaining 20 cents of each premium dollar to pay overhead expenses, such as marketing, profits, salaries, administrative costs, and agent commissions. The Affordable Care Act sets minimum medical loss ratios for different markets, as do some state laws.” (Healthcare.gov, 2012)
The Affordable Care Act Law forces payer insurance policies for persons or groups to devote at least 80% of payments of medical