The Patient Protection and Affordable Care Act (PPACA) changes that took effect in January 2014 helped increase the state’s overall individual health premium revenue to $5.2 billion in 2014, from $2.2 billion in 2013.
But the state’s overall individual health loss ratio also increased, to 92.32 percent, from 78.66 percent.
The Florida small-group health market ended up with a loss ratio of 76.02 percent on $3.1 billion in revenue for 2014, compared with a loss ratio of 78.63 percent on $3.7 billion in revenue for 2013.
The large-group market came in with a loss ratio of 83.09 percent on $7.1 billion for 2014, compared with a loss ratio of 82.81 percent on $6.6 billion in revenue the year before.
The Florida Health Insurance Advisory Board included those figures in its official 2015 Florida health insurance market report.
PPACA imposed many new mandates on the individual and small-group markets in 2014, and it also banned almost all underwriting based on individual health status factors other than age in the individual market.