U.S. Denies Bids by Kansas, Oklahoma for Health Law Waivers
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Health insurers in Kansas and Oklahoma can’t take more than 20 percent of the revenue they collect in premiums for overhead and profit, after the U.S. today denied requests from the states for more generous limits.
The government now has rejected requests by eight states for waivers from a provision of the 2010 health-care overhaul that requires insurance companies to spend at least 80 percent of premium revenue on care, called a medical loss ratio. Seventeen states have asked for an adjustment to the requirement that would allow their insurers to spend less.