A health insurer's Medical Loss Ratio (MLR) is the share of premiums spent on medical claims. As part of the goal of reducing the cost of health care coverage, the Affordable Care Act introduced minimum MLR provisions for all health insurance sold in fully-insured commercial markets as of 2011,...

In promoting health care reform in 2009, President Obama stated, “when it comes to health care spending, we are on an unsustainable course that threatens the financial stability of families, businesses and government itself.” We are still on that “unsustainable course” thirteen years...