rssAn Attempt to Force Insurance Companies to Dedicate More Cash to Care
Thursday, October 01, 2009 at 12:54 pm
- 10 Comments
Sen. Jay Rockefeller (D-W.Va.), chairman of the Senate Finance Committee’s health subpanel, is no fan of the insurance industry, as was made perfectly clear during Tuesday’s debate on his failed amendment to create a public plan.
Along those lines, the West Virginia Democrat plans today to propose legislation requiring insurance companies to dedicate a minimum percentage of their premium revenues to the delivery of medical care. Rockefeller claims those companies spend too much paying salaries and rewarding shareholders, and not enough treating patients.
He has a point. The health reform bill moving through the Senate Finance Committee is a gift to the industry industry, supplying upwards of $460 billion in insurance subsidies over the next decade. Rockefeller said Congress should enact “some guarantee that these taxpayer dollars are being used to help American families get health care. … We must demand that with taxpayer dollars the health insurance companies put people before profits.”
A vote on Rockefeller’s proposal should come later today.
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[...] today, we previewed an effort by Sen. Jay Rockefeller (D-W.Va.) to require insurance companies to dedicate a minimum share of [...]
Comment posted October 2, 2009 @ 10:22 pm
In what media accounts are casting as a serious setback for President Barack Obama and lawmakers who back the “public option,” the Senate Finance Committee Tuesday voted against including the provision in the bill. Reports also remark on GOP unity against the provision, which they compare to the Democratic split apparent in Tuesday's committee votes. Where I am a health insurance agent with http://www.benefitsmanager.net/SelectHealth.html . I find this frustrating somewhat. I don’t agree with the design of the “public option” where it works against a health system in place now and causes a financial burden on tax payers. But, I think we need one out there. I need the ability to get my clients a insurance policy that won’t decline them for pre-existing medical conditions. See Utah’s response to health care reform and health insurance reform. http://www.prweb.com/releases/utah_health_insurance/he....
Perhaps the feds should look at the only second state case attempt for reform as a model. What about TORT reform? That honestly impacts doctor insurance costs as well as health insurance premiums by 13% See study in prior link.
Comment posted May 31, 2011 @ 4:05 pm
The Mortgage Bankers Association and the four largest servicers either declined to speak with American Banker for this article or did not return phone calls.
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