The Democrat screw up on the 80% rule for insurers
Image via Wikipedia Washington Post: ... Beginning in 2011, insurers must devote at least 80 percent of the premiums they collect to medical claims or other activities that improve customers' health - leaving no more than 20 percent for the insurer's administrative costs or profits. Companies that do not spend enough on the right purposes will have to refund the difference to their customers in 2012. Consumer advocates have hailed the new "medical loss ratio" standard as a ground-breaking protection against profiteering by insurers. But the law 's drafters were concerned that it could prove too onerous for plans selling to individuals, whose customer base is less stable and healthy than those of plans serving small and large businesses. So the law permits states to request temporary adjustments of the standard from the Secretary of Health and Human Services . According to rules issued by HHS , a state must provide data demonstrating that there is a reaso...