Katie Grant, 202-225-3130
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today on a report by the Department of Health and Human Services that consumers have saved $2.1 billion on health insurance premiums. New rate review rules, which require justification for rate increases of more than 10%, have helped save an estimated $1 billion, and the Medical Loss Ratio, which requires 80% of premium dollars be spent on health benefits, has provided rebates worth $1.1 billion to nearly 13 million consumers:
“Once again, we are seeing evidence of how the Affordable Care Act is benefiting Americans by lowering the costs of care and putting patients first. Today's report that the health reform law enacted by Democrats last Congress has saved consumers $2.1 billion through its rate review provisions and the medical loss ratio affirms that reform is working.
“Democrats will continue working to make sure the Affordable Care Act is fully implemented. Already, Republicans in the House have voted over thirty times to defund or repeal the law. I continue to call on them to cease their attempts to end a law that has yielded so many benefits to American families and has brought real savings to individuals and to our economy as a whole.”