Site Map Icon
RSS Feed icon
 
 
 
March 26, 2017
Gov. Walker Files Waiver Request to Protect Insurance Company Profits
Posted On: Nov 03, 2011

The Affordable Care Act of 2010 requires insurance companies to spend at least 80% of premiums for individual policies on actual medical care. But on October 25th, Scott Walker’s Insurance Commissioner quietly filed an official request asking the feds for a three year waiver from this provision! This secretive attack undermines a key consumer protection of the Affordable Care Act while protecting excessive profits and wasteful overhead for the health insurance industry.  
... Scott Walker’s attack on our Skyrocketing health insurance premiums have led to rampant health insecurity for too many working families in Wisconsin.
 
In fact, the provision requiring insurance companies to spend 80% of premium dollars on actual health care takes direct aim at out-of-control health care inflation.
 
Given this reality it is stunning (and highly revealing) that Scott Walker is seeking to put industry profits ahead of the interests of consumers.
 
... Included on the list of Wisconsin insurers that are not meeting the 80% federal standards on profits and overhead are large hyper-profitable national insurance conglomerates such as Humana and UnitedHealthCare. Both have posted double digit increases in profit, and together are on track to earn just under $7 billion this year alone.
 
If Scott Walker’s waiver request is approved, it will hit health insurance rate payers directly in the pocket book.  According to the Walker Administration’s documents accompanying the federal waiver request, health insurers not meeting the standard are projected to pay back $14 MILLION in rebates to Wisconsin consumers over the next three years.
 
The Walker Administration is saying that highly profitable health insurance corporations need this money more than Wisconsin workers struggling to make it through the worst economic downturn since the Great Depression.  We strongly disagree. The people of Wisconsin deserve better.
from Citizen Action of Wisconsin


Member Login
Username:

Password:


Not registered yet?
Click Here to sign-up

Forgot Your Login?
<< March 2017 >>
S M T W T F S
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31
Organize Today
Learn more about organizing your workplace!

Click Here
 
 
IBEW local 14
Copyright © 2017, All Rights Reserved.
Powered By UnionActive™

196785 hits since May 23, 2010
Visit Unions-America.com!

Top of Page image