Texas
Related: About this forumFeds Reject Texas' Request to Delay Insurance Reform
Last edited Sat Jan 28, 2012, 07:55 PM - Edit history (1)
TDI had conducted a survey of insurance providers, and estimated the average medical loss ratio for individual insurance carriers in Texas was 71 percent in 2010. Some carriers had medical loss ratios as low as 45 percent.
Geeslin said in his letter to HHS that if insurance carriers had been required to abide by an 80/20 MLR in 2010, they would have been forced to refund $158.1 million to policyholders virtually eliminating the total net underwriting profits of $158.6 million.
http://www.texastribune.org/texas-health-resources/health-reform-and-texas/feds-reject-texas-request-delay-health-reforms/?utm_source=texastribune.org&utm_medium=alerts&utm_campaign=News%20Alert:%20Subscriptions
[link:http://www.texastribune.org/texas-health-resources/health-reform-and-texas/feds-reject-texas-request-delay-health-reforms/?utm_source=texastribune.org&utm_medium=alerts&utm_campaign=News%20Alert:%20Subscriptions|
Sounds like the greedy Pigs are going to squeal. a + for Obama Care
sonias
(18,063 posts)But bad for republicans.
Just goes to show you how bad some of these insurance scammers are raking the public over the coals to squeeze more money out of them. Managed health care has always been a scam and now the fat roaches are getting a spotlight shown on them and they are scurrying to hide again.
white cloud
(2,567 posts)Some good comments
jfuquay@star-telegram.com
Thousands of Texas consumers could be due rebates this summer after the federal government rejected the state's request to phase in new requirements that health insurers selling policies to individuals pay at least 80 percent of premiums on medical expenses.
Friday's decision by the Health and Human Services Department means that Texans who held policies in 2011 will get money back from insurers who failed to meet that threshold. Based on 2010 regulatory filings, close to 700,000 Texans would have shared about $160 million in rebates from 22 insurers who did not meet the 80 percent rule. Twelve insurers met it.
The amount of money actually refunded will depend on 2011 results, which have not been reported. Insurers changed their operations in anticipation of the law, analysts said.
Consumer advocates hailed the decision, while state regulators were critical.
"Texas' request put insurers' profits over consumers' pocketbooks and would have set up the state to miss a critical opportunity to slow rising insurance premiums," said Blake Hutson of Consumers Union. "Today's decision is a victory for Texas consumers who buy insurance on their own."
Read more here: http://www.star-telegram.com/2012/01/27/3693994/some-texas-health-insurers-ordered.html#storylink=cpy#storylink=cpy