Thursday, October 21, 2010

State regulators recommend new health insurance rules

McClatchy reports on the central planners:
State insurance regulators on Thursday unanimously recommended controversial rules that govern how much insurers must spend on patients' medical care, and they chose not to adopt any of several amendments that consumer advocates had feared would gut key provisions.

The rules, which involve an important part of the new health care overhaul law, now go to Health and Human Services Secretary Kathleen Sebelius, who has final say.

Leaders of the National Association of Insurance Commissioners voted after months of meetings and debate that involved industry and consumer representatives. The recommended rules center on the "medical loss ratio," which is how much insurers spend on medical care versus administration and profit.

The health overhaul law that Congress approved in March requires insurers to spend at least 80 percent of their revenue on direct medical care starting next year and to issue rebates to consumers if they fail to hit the target.
The Soviet planners are interfering with your right to make a contract.