Guam News - Guam News
In his letter, Senator Rodriguez writes that what is at issue is "whether a Guam based health insurance company can avoid or minimize the medical loss ratio rebate obligation by setting up a separate company and transferring sums of money to that company to avoid the rebate."
The letter was sparked by TakeCare's award of $15-million dollars to its shareholders, while owing $11.3 million in un-paid claims and paying nothing in rebates to its subscribers.
Meanwhile, Staywell has announced that it will be issuing rebates to its subscribers this week totaling $3.8 million dollars. SelectCare is also sending out rebate checks amounting to $11.9 million dollars.
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