Refunds from Michigan Health Insurers
Some Michigan citizens will receive refund checks or reduced health care premiums totaling $13.1 million this year. According to a report by the Obama Administration.
Seventeen Michigan companies did not spend at least 80% of their customers premiums to cover health care as opposed to their administration of the companies.
Under the ACA insurers that cover small groups and individuals, it is the law that they must spend at least 80% of their customers premiums to cover patient care or to improve quality. This is a way the Obama administration and the Democrat party are trying to limit the salaries the health insurance companies pay their employees and the profit the companies may make.
Here’s a thought you ever wonder why the democrats did not propose a law which stated non-profits must spend at least 80% of what they take in on the cause they are collecting for.
By the way Insurers that cover large markets must spend at least 85% on health care and quality improvement.