State insurance regulators are threatening to gut the new rule in the health reform law that keeps insurance premiums in check. This rule, called the medical loss ratio (MLR), requires insurance companies to spend at least 80% of your premiums on medical care instead of using it to pad their profits and pay millions to their CEOs. State insurance commissioners are holding a secret meeting tomorrow to decide whether they want to force a vote to rob $1 billion in rebates from consumers.
It’s no surprise that the Wall Street run insurance companies are trying to kill any rule that cuts into their excessive profits. That’s why they’re pressuring your state insurance commissioner to change the law to let them take $1 billion of your money. The truth is that the medical loss ratio works and has already lowered premium rates for some Connecticut residents by 19 percent!
Health insurance companies continue to make record profits, and their CEOs have collected more than $1 billion in personal compensation in the last decade while the majority of Americans are barely getting by. Fight this greed-driven corporate power today.