And not a moment too soon. Specifically, the regulations that determine what a medical expense is when determining if 85% of large insurers' premium receipts are paid as medical expenses. Here's some news: expenses incurred in selling the policy are NOT counted as medical expenses toward the medical loss ratio.
In Forbes
http://www.forbes.com/...
So, can private health insurance companies manage to make a profit when they actually have to spend premium receipts taking care of their customers’ health needs as promised?
Not a chance-and they know it. Indeed, we are already seeing the parent companies who own these insurance operations fleeing into other types of investments. They know what we should all know – we are now on an inescapable path to a single-payer system for most Americans and thank goodness for it.
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If you thought that the Obama Administration chickened out on pushing the nation in the direction of universal health care for everyone, today is the day you begin to understand that the reality is quite the contrary.
I don't need to comment - the writer at Forbes did it for me.