Wisconsin Insurance Commissioner Ted Nickel has asked the federal government to exempt health insurers from the requirement that 80 percent of premiums be spent on medical care, according to a Milwaukee Journal Sentinel report.
Instead, the Office of the Commissioner of Insurance has proposed that the new regulation, part of the Patient Protection and Affordable Care Act, be phased in over three years for health plans that people buy on their own, according to the report. Mr. Nickel proposed progressive increases of 71 percent, 74 percent and 77 percent over the next three years.
Health insurers that don't meet the requirement would be forced to pay rebates to their customers. Some within Wisconsin's legislature have criticized Mr. Nickel's proposal, saying it is putting insurance companies' interests ahead of consumers', the report said.
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Instead, the Office of the Commissioner of Insurance has proposed that the new regulation, part of the Patient Protection and Affordable Care Act, be phased in over three years for health plans that people buy on their own, according to the report. Mr. Nickel proposed progressive increases of 71 percent, 74 percent and 77 percent over the next three years.
Health insurers that don't meet the requirement would be forced to pay rebates to their customers. Some within Wisconsin's legislature have criticized Mr. Nickel's proposal, saying it is putting insurance companies' interests ahead of consumers', the report said.
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