New Rules Require Health Insurers to Spend More on Care

[Cohibia]

WASHINGTON (Nov. 22) -- Insurance companies will have to spend 80 to 85 percent of consumers' premiums on direct patient care or send a rebate if they don't, under long-awaited rules issued today that were passed as part of the Obama administration's health care law.

The 308 pages of regulations on what is known as the "medical loss ratio" may be technical, but Health and Human Services Secretary Kathleen Sebelius called them "an important step to hold insurance companies accountable and increase value for consumers."

Health plans now spend as little as 60 percent of premium dollars on medical care. A big chunk goes for administrative costs such as marketing, lobbying, executive salaries and other non-health-related overhead.

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praise Jesus for Barack Obama, a man of the people!

[Soul Crusher]

Men of the people don't take CEO's to india who own naked scanner systems and then subject the population to that crap you communist traitor. 

[Cohibia]

Men of the people don't take CEO's to india who own naked scanner systems and then subject the population to that crap you communist traitor. 

stick to topic PEA BRAIN!

[MB]

Health plans now spend as little as 60 percent of premium dollars on medical care. A big chunk goes for administrative costs such as marketing, lobbying, executive salaries and other non-health-related overhead.

How stupid are people to allow this fraudulent system?  Let's all pool our money together to a 3rd party who will then take 40% of it for themselves, and give us back 60% for our medical costs.  Why do we need health insurance?  There is no reason.

[Kazan]

How stupid are people to allow this fraudulent system?  Let's all pool our money together to a 3rd party who will then take 40% of it for themselves, and give us back 60% for our medical costs.  Why do we need health insurance?  There is no reason.

Well because the government deemed it so. HMO ACT of 1973 was the begining of the end. Now we have this giant cluster fuck, because you know they will get it right this time

[MB]

Well because the government deemed it so. HMO ACT of 1973 was the begining of the end. Now we have this giant cluster fuck, because you know they will get it right this time

It's time to strip it down and take out unnecessary costs like insurance.  I would advocate employers setting up health savings accounts in lieu of contributing to health insurance.  If you change jobs, your HSA balance would be carried over and used for qualifying medical expenses.  There could also be an option to borrow from your HSA if you have an unexpected health emergency early in life when you are just starting out.  If the average employer contribution to current health insurance is $5k/year and that is put into an HSA, that is $225k over a 45 year work life.  In addition, I would make HSA balances transferrable in the event of death.  In other words, you can pass your HSA balance on to your kids without penalty. 

[Soul Crusher]

It's time to strip it down and take out unnecessary costs like insurance.  I would advocate employers setting up health savings accounts in lieu of contributing to health insurance.  If you change jobs, your HSA balance would be carried over and used for qualifying medical expenses.  There could also be an option to borrow from your HSA if you have an unexpected health emergency early in life when you are just starting out.  If the average employer contribution to current health insurance is $5k/year and that is put into an HSA, that is $225k over a 45 year work life.  In addition, I would make HSA balances transferrable in the event of death.  In other words, you can pass your HSA balance on to your kids without penalty. 

God forbid someone ever do something like that makes sense.      

No, instead we have this idiotic scheme that results in massive amounts of mobney going to nothing related to health care. 

[MB]

God forbid someone ever do something like that makes sense.      

No, instead we have this idiotic scheme that results in massive amounts of mobney going to nothing related to health care. 

Washington is too big to enact common sense solutions.  Obama would deem such a solution hurtful to the people leeching off an already overpriced healthcare system.