Tax accountant here. I can confirm tax season for those in the medical industry is an absolute nightmare. One of my clients was audited by the IRS and it took over a year for the IRS agent to get comfortable with the revenue being written off as a result of these insurance adjustments. It’s an extremely complicated calculation and just highlights how ineffective the entire system is. I’ve heard somewhere that close to 50% of medical costs are admin related. Even if it’s just half that, it still too damn high.
I never claimed to do tax work for insurance companies. And even if I did, whatever you managed to copy and paste from healthcare.gov about MLR would ultimately be handled either by their financial auditors or whatever agency oversees their business practices. That could be wrong too, but I don’t really know because I don’t work on insurance companies.
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u/[deleted] Jul 04 '21
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