Quick Fit Insurance
Did you hear about the Medical Loss Ratios?
How many are aware this was in the Affordable Care Act? Is this worth repealing? Below is a quick primer on the subject.
http://www.opencongress.org/articles/view/1357-The-Most-Important-Health-Care-Reform-Provision-You-ve-Never-Heard-Of
“Once the bill is enacted, all health insurance plans would be required to spend at least 85 cents of every dollar paid in premiums each year to providing actual health care. If, in a given year, an insurer doesn’t spend that amount on health care, they would have to give their extra profit back to their customers in the form of rebates. Only 15 percent of premiums max could be used for marketing, administration, underwriting and profit. And the HHS Secretary could up the ratio from 85-15 if she saw fit.”
sounds like a good idea to me. To have people actually spend money on what they are supposed to seems like a system that isn’t riddled with greed. Thank you health care regulations.
