Floridians Deserve Protection

Attached a link to a great letter by Laura Goodhue, Executive Director Florida Community Health Action Information Network, which was published in today's Miami Herald. The letter was a response to Florida Insurance Commissioner Kevin McCarty's Other View article titled "Whoa — Don’t cash those rebate checks yet" in which he claims that the Medical Loss ration (MLR) requirements adversely affect the healthcare marketplace and are already creating unintended consequences that could lead to less competition, fewer products, and fewer opportunities for consumer choice. Laura Goodhue correctly points out that "the law says that insurers must limit the amount they spend on profit and overhead and spend a set minimum of premium dollars on direct medical expenses. If health insurers fail to meet that standard, they have to issue rebates for the difference. The Kaiser Family Foundation reported that Floridians would see $148 million in rebates that will be issued as refund checks or credited toward the portion of the premium that employees pay. Going forward, the MLR rule means that consumers will get a better deal from their health insurance company. These sound consumer protections must be embraced by our state — not dismissed.Ironically, Florida’s Office of Insurance Regulation has refused to accept funding to increase the agency’s ability to review proposed health insurer rate increases — a move that would help control the premiums faced by Floridians. To make matters worse, there’s no process for the public to weigh in on these same proposed rate increases. It doesn’t stop there: In the last year, the state also insisted that Florida get a partial exemption from the MLR requirements because, it claimed, it would lead to a mass exodus of insurers from our market. This request was rejected, and insurers didn’t flee after all." I absolutely agree that Floridian's deserve protection against corporate greed. Health insurance companies continue to enjoy " healthy" profit margins and will not leave Florida just because the Affordable Care Act requires adherence to the Medical Loss Ratio. There is still too much money to made from denying healthcare. Its irresponsible that the Florida Office of Insurance Regulation blocks all efforts to protect our fellow citizens but continues to shelter insurance companies. It makes me sick to my stomach!! Yours Bernd