Obscure Obamacare Clause Takes Effect Today - the "Medical Loss Ratio"

[guartz]

You are putting words in my mouth, I'm just correcting factual mistakes.

[Demosthenes11]

I am? please let me know where

[guartz]

You said that i'm ok with companies ripping people off.

notsureiftrolling.jpg

[Demosthenes11]

well you seem to think that this provision, which prevents companies from ripping people off like they have been, means that people in the medical industry won't get paid.

If that's not your opinion, why would you be against this?

[guartz]

I was responding to something else.

Regarding this provision, I said that this article is blowing steam because the only thing this provision changes is making Medical Loss Ratio federal, instead of state mandated. Now it's constant, before it varied.

[Demosthenes11]

I was responding to something else.

Regarding this provision, I said that this article is blowing steam because the only thing this provision changes is making Medical Loss Ratio federal, instead of state mandated. Now it's constant, before it varied.

why is that not a good thing?

[guartz]

who said its a bad thing? Read my text: This provision changes very little. Medical Loss Ratio mandates have been in effect for decades.

[Demosthenes11]

I don't get what your point is though. This isn't good legislation? People are too happy about it? I think taking shit like this out of the control of scumbags like scott walker and the rest of the "don't regulate ever" crowd is actually quite the accomplishment

[guartz]

My point is that article is lying to you.

[Demosthenes11]

Which part? I don't see anything misleading

[guartz]

"... Rather, the medical loss ratio will, ultimately, lead to the death of large parts of the private, for-profit health insurance industry."

Nevermind that medical loss ratio has been around for decades, it's gonna kill insurance companies for sure now!

"Why? Because there is absolutely no way for-profit health insurers are going to be able to learn how to get by and still make a profit while being forced to spend at least 80 percent of their receipts providing their customers with the coverage for which they paid. If they could, we likely would never have seen the extraordinary efforts made by these companies to avoid paying benefits to their customers at the very moment they need it the most."

Nevermind that most states already required that insurance companies hold a 80% medical loss ratio on group plans.



a lot of steam once you know the facts.

[tyven]

loss of agent commissions is what is going to kill the private for profit industry. not the actual MLR.

[guartz]

loss of agent commissions is what is going to kill the private for profit industry. not the actual MLR.

wonder if they will do away legal requirements for actually being able to sell insurance? As it stands now you have to be licensed and constantly take education courses, because, realistically, it's a lot of information. It's pretty expensive too. I think courses go for like 300 dollars and 100+ dollars for licensing.

[Yuri-G]

never I have I seen two people on the same side argue so vehemently about so little as I have on the internet.

[guartz]

pretty sure demos was just trying to troll, or he likes to jump to conclusions and make horribly wrong assumptions.

[tyven]

wonder if they will do away legal requirements for actually being able to sell insurance? As it stands now you have to be licensed and constantly take education courses, because, realistically, it's a lot of information. It's pretty expensive too. I think courses go for like 300 dollars and 100+ dollars for licensing.

No idea. As it stands now everyone is throwing their effort behind HR1206 which seeks to get the commission removed from the MLR calculation ratio for any licensed professional. You are spot on with the CE Credits though. Lots and lots of layoffs coming and independent agents closing up shop already.

[Demosthenes11]

pretty sure demos was just trying to troll, or he likes to jump to conclusions and make horribly wrong assumptions.

it was trolling until I was confused what your actual stance was

[Ferion]

loss of agent commissions is what is going to kill the private for profit industry. not the actual MLR.

Wouldn't this only affect brokers and GAs though? Can't really see how it would hurt the actual health insurance companies too much, unless I'm missing something.

[guartz]

Wouldn't this only affect brokers and GAs though? Can't really see how it would hurt the actual health insurance companies too much, unless I'm missing something.

It will affect independent insurance agents and agencies. Those are the guys who sell policies from multiple companies... for example, ehealthinsurance.com. Captive insurance agents, that is, those who only sell for one company and are actually employed by that company, not contractors that is, won't be affected at all.

[Ferion]

It will affect independent insurance agents and agencies. Those are the guys who sell policies from multiple companies... for example, ehealthinsurance.com. Captive insurance agents, that is, those who only sell for one company and are actually employed by that company, not contractors that is, won't be affected at all.

Yeah, but isn't it the companies that are providing the actual policies that should be focused on? Not the the people that are connecting the public to these health insurance companies. I know that in New Jersey most health insurance companies are connected to their clients through brokers/GAs. It seems like this would penalize these people rather then the companies actually providing the coverage and receiving the premiums.