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Showing Original Post only (View all)"Obamacare saved consumers billions, new report finds" [View all]
Obamacare saved consumers billions, new report findsBy Morgan Whitaker at MSNBC
http://www.msnbc.com/politicsnation/obamacare-saved-consumers-billions
"SNIP........................
The report from The Commonwealth Fund released Tuesday finds the medical loss ratio provision, which caps profits for health insurance companies, benefited consumers by about $3 billion over the past two years through a combination of rebates from insurance companies and reduced overhead spending.
The laws provision limits insurance companies to spending a minimum of 80-85% of premiums specifically on treatment and medical costs, rather than overhead and profits.
The rebate receipts sent to consumers hit $1 billion in 2011 and about $500 million in 2012, an indication that insurance providers successfully shifted business models to fit the new spending requirements. In addition to the rebates provided to consumers, insurers reduced profits and spending on general overhead by about $1.4 billion, the report finds.
The medical loss ratio requirement of the Affordable Care Act creates a higher-value insurance product for consumers, said The Commonwealth Fund President David Blumenthal said in the report. It ensures that a substantial portion of their premium dollar pays for medical care, as opposed to administrative costs and profits. It also encourages insurers to improve the care their customers receive, by investing in initiatives that will help achieve better outcomes for patients.
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Yeah, where ARE all those gripers now? Along with the "I hate it because I don't understand it"
MADem
May 2014
#11
Yeah, why would any Democrat be against promising insurance companies a half trilllion dollars
Doctor_J
May 2014
#14
The subsidies are paid by taxpayers to the corporate profitmongers.
woo me with science
May 2014
#15
Why do we as a country feel the need to stick a middleman in to every transaction?
A Simple Game
May 2014
#20
Health "care" revenues and profits are through the roof. But the BOG is convinced it's the answer
Doctor_J
May 2014
#27
Nonprofit co-ops, Medicaid, and Medicare must be the biggest corporate profitmongers of all.
IronLionZion
May 2014
#29
I have a policy I got through the exchange and I'm thrilled, especially knowing there aren't
okaawhatever
May 2014
#10