The Bomb Buried In Obamacare Explodes Today

[Chris_]

The Bomb Buried In Obamacare Explodes Today

There is, however, one notable exception – and it’s one that should have a long lasting and powerful impact on the future of health care in our country.

That would be the provision of the law, called the medical loss ratio, that requires health insurance companies to spend 80% of the consumers’ premium dollars they collect—85% for large group insurers—on actual medical care rather than overhead, marketing expenses and profit. Failure on the part of insurers to meet this requirement will result in the insurers having to send their customers a rebate check representing the amount in which they underspend on actual medical care.

Because there is absolutely no way for-profit health insurers are going to be able to learn how to get by and still make a profit while being forced to spend at least 80 percent of their receipts providing their customers with the coverage for which they paid. If they could, we likely would never have seen the extraordinary efforts made by these companies to avoid paying benefits to their customers at the very moment they need it the most.

Forbes

Looks like we finally found out what's in the bill.

[Freeper]

Many more surpises to come too, and non of them good.

[whiffleball]

My local GP opted not to renew his AMA membership because of their Obamacare endorsement.

"To make the ‘Affordable Care Act’ seem like it could work, the President needed an ally on the inside—a group that would not only tow the political line, but could also be kept on a short lease. The AMA, which reaped $72 million in federally-sanctioned medical billing copyright revenues in 2010 alone, was dependent upon the government for its fat coffers; they were the logical choice to be the President’s lackey."

From this interesting read:  http://americasmedicalsociety.com/obama%E2%80%99s-war-on-doctors/

[JohnnyReb]

The 2,000+ page Obamacare bill will be a varietal minefield of explosive dictates.

[CG6468]

My local GP opted not to renew his AMA membership because of their Obamacare endorsement.

I know of no doctor who remains a member of the AMA.

[docstew]

I know of no doctor who remains a member of the AMA.

Latest stat I heard was that membership was something like 12% of all doctors were, so chances are high that you're correct.