U.S. health insurers get final spending rules

[Wretched Excess]

I wonder if federal agencies would violate their own regulations.  Does 85% of all welfare dollars go to welfare recipients?  is the overhead on the department of education less than 15%?

U.S. health insurers get final spending rules
.
.
.
The healthcare law requires large group health plans to allocate at least 85 cents per premium dollar to medical care, not administrative costs or profit. Plans for individuals or small groups must spend 80 cents per dollar.

If plans do not spend that much on care, policyholders get a rebate. HHS said on Monday up to 9 million Americans could be eligible for up to $1.4 billion in rebates starting in 2012.

The rules help "guarantee that consumers get the most out of their premium dollars," Health Secretary Kathleen Sebelius said, adding that "overhead costs contribute little or nothing to the care of patients and health of Americans."
.
.
.
More

[thundley4]

This is so  up. It's just another part of the bill that is aimed to drive insurance companies out of business. Most already operate on a profit margin of 3-4% . Who would get the rebates? Will they be paid only to those who didn't use their insurance or will everyone get a rebate?

[true_blood]

And this HELLCARE bill is good, how again?!
Oh yeah. The imposter told us that costs will go down, jobs will be created and you'll be able to keep your doctor. All while reducing the deficit and insuring 30 million more people. Get ready for single payer system. They took all the steps necessary to get there. After all, the imposter himself said it would be a slow process to single payer system.
Need proof? Here ya go;
[youtube=425,350]http://www.youtube.com/watch?v=fpAyan1fXCE[/youtube]

[Wretched Excess]

declaring the minimum that a corporation may spend directly on their end product or service is the same as declaring the maximum profit that it may make.  so, ladies and gentlemen, the moment has arrived.  we live in a country that has legislated a maximum corporate profit, and it was hidden inside something that the oligarchs sold as "health care reform".

[Wretched Excess]

if pigboy henry waxman thinks it's a good idea, you can rest assured that it's actual purpose is to destroy the private health insurance industry in the united states.  this is the same guy that was going to hold show trials for CEO's when they told the truth about the post-obamacare cost of health care.  he quietly canceled them when he realized that they were right, and he was wrong.

Chairman Waxman Praises HHS Regulations That Will Help Families Get More for Their Health Insurance Premiums

(Media-Newswire.com) - Chairman Henry A. Waxman today lauded the release of new rules that require health insurers to spend a substantial portion of premium dollars for health care services and assuring quality care.

“In today’s market, too many insurers – particularly in the individual health care market – charge high premiums and yet spend 30 percent or more on administrative costs, high salaries, and profits.  The American public deserves to know what happens to their premium dollars, and they deserve to have those dollars devoted to providing health care services.”

Plans not complying with the “medical loss ratio” ( MLR  ) requirements will be required to issue refunds to their enrollees based on their performance in 2011. These rebates could total more than $150 for enrollees in the individual market. In addition, the heightened transparency will provide consumers more information and put pressure on plans to improve their efficiency.

“This is just the latest in the series of new consumer protections arising from the health reform law.  Republicans looking to repeal health reform are seeking to block the release of consumer-friendly information and to allow health plans to waste their customers’ premium dollars.”

More

[true_blood]

I remember when Henry "bat boy" Waxman required the insurance CEO's to Congress, but then canceled.