Meet your health care czar, “Nanny Annie.” Her name is Nancy-Ann deParle, director of the White House Office of Health Reform. Ms. deParle is the un-elected and un-accountable top-dog ObamaCare bureaucrat, the One who will determine the value, quantity, and accessiblity of your health care.
The “medical loss ratio” is the percentage your health insurance company spends on “your health care versus the spending that they have on overhead and on their executive compensation and salaries and the other things that they do.”
With her big red marker, the Nanny demonstrates that some evil insurance companies are spending only about 50% of your premium dollars on your health care, but that “the rest goes to their administrative expenses and executive compensation and salaries.”
Nanny Annie has a solution to her evil corporation crisis. Today, the Department of Health and Human Services decreed that by 2012, if a private health insurance company doesn’t spend 80% of each dollar you give them for premiums directly on patient health care, the insurance company will “owe you money back. They either lower your pemiums or they give you a rebate.”
Nanny Annie at the White House White Board
And the Best News… it’s All Transparent!
All of this, she says, means you as a consumer “are gonna get more value for your dollars,” and she closes with the “best news is this will be transparent.”
Well, I’m glad it’ s going to be a transparent destruction of the private health insurance market, while we all learn the true meaning of ObamaCare’s “value for your dollar.”
Is This Making Your Health Care System Better For You?
It’s not even 2012 yet, and here’s the “value” and “better health care system” that American patients are getting:
- In September, major health insurance companies announced they will no longer offer child-only insurance plans, because ObamaCare requires these same plans to start accepting children with pre-existing conditions, exploding costs and rendering the coverage unprofitable.
- Also in September 2010 and in response to the pending medical loss ratio rule, McDonalds announced that it may no longer offer mini-med health insurance to 30,000 employees. McDonald’s stated that to continue offering its mini-med insurance plan would be “economically prohibitive.”
- In October 2010, major health insurance providers Anthem Blue Cross and Blue Shield in Connecticut raised rates as much as 22%to comply with new and broader ObamaCare requirements.
As this bureaucratic, back-door price-fixing “medical loss ratio” scheme disrupts and clogs the free market of health insurance, the transparency she’s touting will reveal that the ultimate effects of ObamaCare are precisely opposite of what’s intended, and true value in health care will be an American historical phenomenon.
The Nanny is right. This will indeed, make a big difference in the value of health care you get. One big devaluation.