Premium Rate-Busting Controls in HR3962

[berni_mccoy]

I'm honestly shocked to see how little some people make claims about this bill who have not taken the time to read it. This bill was clearly designed to do one thing well: Bust the rate control owned by the Insurance Industry. The Insurance Industry has been screwing the people over and this bill will turn the tables on them quite clearly.

Here are some specific parts of the bill that will bust Premium Rates and make them more affordable:

Sec. 102. Medical loss ratio min. 85%, forced rebate of excess.
Sec. 104. Exposure of price gouging by insurers
Sec. 109. No lifetime limits
Sec. 213. Insurance Rating RULES.
Sec. 217. Advance notice of planned rate increases to allow for review/denial of increase
Sec. 343. Maximum premium of Public Insurance Plan (5k / individual / year ; 10k / family / year in highest income bracket) - private plans must compete with this in the Exchange

The bill also ends exemption from anti-trust for the Insurance Industry. They will no longer control the market, competition or premiums. They will be forced to compete with an affordable plan. Rates will be regulated.

Read the details of these Rate Busting Regulations here: http://docs.house.gov/rules/health/111_ahcaa.pdf

[MineralMan]

1. How dare you post real information?

We're supposed to be against this, no matter what. And there you go, posting positive stuff about it.

Hmph! :toast:

[berni_mccoy]

2. Lol. I noticed the unrec brigade is out enforce on this post.

Thanks for your support. I feel like I'm fighting this fight alone sometimes.

[MineralMan]

3. Well, of course.

What else would they do?

[TheKentuckian]

4. The regs are decent. I'm less sure about the teeth for enforcement

I also think that many want a mechanism in place rather than depending on rules and their effect on the market to control costs.

I think more than anything people are ignoring what controls are in place for someone that actually gets sick because what they want to hear is how much lower they can expect premiums to be for themselves which I don't see happening as much as stabilization of rates with some brakes on the inflation along with a much better situation as far as overall costs when and if you have a major issue.

I think this is shaping up to be a little more costly for most people in exchange for much less of a hit when trouble comes and more price stability going forward.

[berni_mccoy]

5. Keep in mind, the biggest rate control will be the Public Plan.

It's rates are capped. The only way insurers will be able to justifier higher rates are by providing coverage and benefits for things not covered in the Public Plan.

[librechik]

6. Question: what means of enforcement are in the bill to make insurers obey?

can you help with this?

[berni_mccoy]

7. It falls largely under the administration of Health and Human Services

And if a plan fails to live up to the standards of the bill, the HHS has the right to remove the plan and give it's customers to another plan in the exchange.

[librechik]

8. pretty weak--maybe that new consumer finance board could help

if it's ever created...

[berni_mccoy]

9. And there you go, just calling something you haven't bothered to research weak.

Thanks for playing though.

[librechik]

16. just off the top of my head

I heart you berni!
thanks for lettin me on your side of the playground...

[spanone]

10. k&r

[mullard12ax7]

11. So you're happy to give corrupt insurance companies $10,000 a year, we get it

A lot of people don't have that kind of money and if you think a gov't toady sitting around concocting a "medical loss ratio" is going to benefit anyone but the gov't, you haven't been paying attention...ever. Take a look at any gov't number, they are all compiled to benefit the gov't and no one else.

[berni_mccoy]

12. I'm currently paying close to 20k / year.

[MineralMan]

13. Me, too.

Fortunately, I go on Medicare next year. My wife, though, is 11 years behind me. Any savings will be a good thing.

[berni_mccoy]

14. Not to mention that the insurance companies will be regulated

and prevented from screwing us over.

[berni_mccoy]

15. dinner time kick