NC Insurers Wait On Health Care Overhaul Decision

Federal regulators say they need more time deciding whether to stick with federal standards that could mean $12 million in rebates for more than 58,000 North Carolina residents who buy their own health insurance.

The U.S. Department of Health and Human Services had until this week to decide whether to give North Carolina insurance companies a waiver from a part of the federal health insurance overhaul.

The law requires they take no more than 20 percent of premiums for profits, salaries, and other administrative costs. Insurers are required to spend at least 80 percent on health care.

State Insurance Commissioner Wayne Goodwin asked Washington in September for a three-year, graduated delay in reaching the 80 percent mark. Goodwin says sticking to the rule would hurt competition.

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  • by Barlow Location: Winterville on Feb 9, 2012 at 07:43 PM
    Expecting companies that have been jacking up rates for years and racking in huge salaries and bonuses to settle for a measley 20%? Next thing you know they'll want them to insure people with pre-existing conditions. HEY! How are you supposed to keep filthy rich with rules like this?

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