Michigan won't challenge new rule: Insurers must spend 80% of premiums on health care
Michigan won't challenge new rule: Insurers must spend 80% of premiums on health care
4:51 PM, Jan. 3, 2012
By Patricia Anstett
Detroit Free Press Medical Writer
Michigan will not appeal a recent federal decision requiring health insurance companies to spend at least 80 cents of each dollar collected on premiums for medical care.
Jason Moon, spokesman for Michigan’s Office of Financial and Insurance Regulation, said today that the office won’t appeal the Dec. 19 ruling by the U.S. Department of Health and Human Services.
Michigan was one of 13 states seeking the exemption to a provision of federal health reforms. Michigan had asked to phase in the requirement, starting with limits to spend at least 65 cents of each dollar collected on health care.
Insurers will be ordered by August to give consumers a rebate check or future credit on health premiums if their spending does not meet what is called the 80-20 rule.
http://www.freep.com/article/20120103/NEWS01/120103054/80-of-health-premiums-federal-appeal?odyssey=tab|topnews|text|FRONTPAGE
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Fuck you, State of Michigan Attorney General Bill Schuette (R)!
IIRC, he was the asshole pushing this suit.
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