Senate HC Bill Allows 20-25% For Administrative Costs

[slipslidingaway]

http://www.examiner.com/x-19087-Special-Interests-Examiner~y2010m2d2-Amazing-secrets-of-the-Senate-healthcare-bill-revealed-using-middleschool-math

"Let’s get right to it. Section 2718 of the Senate bill provides that...

Health insurance companies will be required to report publicly the percentage of total premium revenue that is expended on clinical services, and quality rather than administrative costs. Health insurance companies will be required to refund each enrollee by the amount by which premium revenue expended by the health insurer for non-claims costs exceeds 20 percent in the group market and 25 percent in the individual market. The requirement to provide a refund expires on December 31, 2013, but the requirement to report percentages continues.(1)

...but what the Senate is really saying here is that the Senate bill requires private insurers to spend only 75 to 80 percent of every premium dollar on actual health care. OK, so what does that mean?

Let’s put it another way: the Senate bill authorizes private insurers to consume 20 to 25 percent of every premium dollar on administrative costs..."


Wendell Potter said in his first interview with Bill Moyers that the medical loss ratio was 95% in the early 90's!

So we now we write legislation that gives them at least four times that amount.

:shrug:


Then there is the matter of investigation and enforcement of this provision.

Who’s Enforcing The Medical Loss Ratio?

Countdown - CIGNA whistleblower Wendel Potter describes the state of health care legislation

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=442074&mesg_id=442074

[Captain Hilts]

1. Which encourages over charging so that bureaucrats can get their full due...nt

[slipslidingaway]

2. That's good, right :) n/t

[WHEN CRABS ROAR]

3. Administrative costs for Social Security is one and a half percent.

[slipslidingaway]

5. If this bill provided health care to everyone and if our nation had extra

money far into the future then giving tax dollars to these corporations would not be as offensive.

Sadly it is not and we do not.

:(

This is nuts.

[Mojambo]

4. Administrative costs = Bigger boat for CEO. n/t

[slipslidingaway]

6. But where are the customer's yachts? n/t

[slipslidingaway]

7. Thanks for the recs :) n/t

[msongs]

8. bend over, and when they done they won't cover your medical costs lololol nt

[slipslidingaway]

11. Yup and more people will be struggling to pay their bills. n/t

[Stinky The Clown]

9. Yee haw. I'm so glad we're getting this wonderful plan.

Rat fuckers ........

[slipslidingaway]

12. It is a good thing people have short memories because they never

remember who screwed them, many issues from the 90's came back to haunt us.

[SnoopDog]

10. While Medicare and Social Security deliver at 3 percent overhead....

Health Security Administration....

One day, we will have the Health Security Administration...

We have to destroy the Health Insurance Companies...

[slipslidingaway]

13. Another transfer of wealth from the majority to the few :( n/t

[donco6]

14. My max overhead I can charge to charters is 5%.

They can't live on that?

[slipslidingaway]

15. It's amazing and now we need to write a law that gives them minimum of 20%...

with tax dollars.

:shrug:

[slipslidingaway]

16. kick - news says there will be no PO, but there will be a law which

mandates profits for insureres.