Insurance companies mandated to spend 80-85% on medical care

This morning, the Obama Administration issued a regulation implementing a provision of the Affordable Care Act that will require insurance companies to spend at least 80 to 85 percent of premium dollars on medical care and health care quality improvement, rather than on administrative costs, starting in 2011. If they don’t, the insurance companies will be required to provide a rebate to their customers starting in 2012.

This is great news. The White House should be trumpeting it from the roof tops. How odd that they aren’t.

I genuinely don’t understand this Administration. Obama was almost disdainful of criticism of TSA then he turns around and does something genuinely bold and helpful like this without making a huge media and highly deserved splash about it.

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