Washington HB2283 sets a minimum medical loss ratio of 90 percent for health plans starting January 1, 2027.

Washington HB2283 mandates that health plans issued or renewed on or after January 1, 2027, must maintain a medical loss ratio of at least 90 percent. The medical loss ratio is defined as the percentage of premiums spent on medical care. The commissioner is authorized to adopt necessary rules to implement this requirement. This provision aims to ensure that a significant portion of health insurance premiums is used for medical services rather than administrative costs or profits.

Washington HB2283 sets a minimum medical loss ratio of 90 percent for health plans starting January 1, 2027.

Washington HB2283 mandates that health plans issued or renewed on or after January 1, 2027, must maintain a medical loss ratio of at least 90 percent. The medical loss ratio is defined as the percentage of premiums spent on medical care. The commissioner is authorized to adopt necessary rules to implement this requirement. This provision aims to ensure that a significant portion of health insurance premiums is used for medical services rather than administrative costs or profits.