Posted on 10/18/2010 10:35:16 PM PDT by MamaDearest
Snips from excerpt only website: NEW YORK (CNNMoney.com) -- Industry experts say more insurers will drop health care coverage or go out of business if they are forced to meet a Jan. 1 deadline that requires them to boost the money devoted to providing care.
Under health reform, beginning 2011, insurance companies will have to spend 80% to 85% of the premiums they collect on care instead of toward their own profits and overhead costs.
Beginning in 2012 If insurers don't increase that loss ratio to 80 cents per dollar paid, they will have to give customers a rebate for the difference .
(Excerpt) Read more at money.cnn.com ...
Private MDs have a direct, linear relationship for income from private insurance reimbursements, which makes private practice possible. MDs will exit with the insurance companies in droves because they will have to exit.
Private MDs are the vast majority of US physicians.
CNN is reporting this, NO WAY, they must not have cleared this with ZERO!
I think Joe Stalin was the first to dictate what profit margin was to be permitted on various industries. Or maybe I’m thinking Hitler....
These people are truly idiots. They seem to think that they can write something one day and it can happen the next day. HIPAA took four years and accomplished nothing. Insurance carriers use an ID number in lieu of a SS number. Medicare still uses SS numbers with a letter stuck on the end - usually an A. You have to have a modem to download their files - how arcaic is that. But I guess that doesn’t matter since government agencies don’t have to abide by the rules. They are doing everything they can to make sure the government ends up being the only insurance company.
0bamaCare is going to destroy health care before it even goes into effect.
Help stamp out government oppression - vote against every democrat and RINO.
I say let’s hold the Fed Gov to the SAME standard. Any Fed program that doesn’t deliver 85% of the resources to the end user gets terminated, immediately.
I say let’s hold the Fed Gov to the SAME standard. Any Fed program that doesn’t deliver 85% of the resources to the end user gets terminated, immediately.
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