March 4, 2008
Aetna to refund $6.6M
Aetna Life Insurance Company will refund $6.6 million this year to small employers in Maine thanks to a Dirigo Health regulation.
Dirigo requires that all small-group insurers either submit rates for state approval or guarantee at least 78% of the premiums collected will be paid out in claims, according to a state press release. Aetna chose the guarantee option, but did not meet the 78% target. The difference will be refunded to approximately 1,000 small groups, the release says.
The refunds represent a portion of premiums paid from July 1, 2004 through June 30, 2007. They do not include Aetna HMO plans, which met the 78% target.
Dirigo requires that all small-group insurers either submit rates for state approval or guarantee at least 78% of the premiums collected will be paid out in claims, according to a state press release. Aetna chose the guarantee option, but did not meet the 78% target. The difference will be refunded to approximately 1,000 small groups, the release says.
The refunds represent a portion of premiums paid from July 1, 2004 through June 30, 2007. They do not include Aetna HMO plans, which met the 78% target.
Mainebiz web partners
Most Recent
Most Recent
Comments