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Health insurance more affordable or enabling health insurance companies to plump up the cost because people are getting money and essentially, charged even more. no, the insurance companies are limited by how much they can raise by the maximum on their mlr. we re talking about just overall. if i m giving someone $1,000, great, i can start there. that s from uncle sam. no, that s not the way the subsidies work. the insurance companies bid for people to buy coverage and that includes people who aren t getting subsidies. people who make 400% of the poverty line or about $98,000 and they bid and then the government comes in and says we re going to provide subsidies. balanced to the second lowest silver plan. and that means no one knows when they start bidding what the second lowest silver plan is. so they can t just bump up how much they re going to charge ....
All. so that s what s different. that s the first part. the second part is in 2010 we told issuers to try to give some transition time, if they wanted to keep policies as they were currently defined, whether they were in a group market or individual market, they could. and so some of them elected to do that. now some of them are moving to the new standards, and the standards under the affordable care act are pretty simple. you have to have the 80% mlr so you can t be taking money more than the 20% to marketing, advertising profit. you had to beat the ten essential health benefits. you had to define co-pay, deductible and diseases in clear and understandable terms so people would know what they were buying. you had to have choices among plans. and then there are folks in the individual market who when they go on the site may qualify for tax credits. some in some states may actually qualify for medicaid expansion. but this is not this problem existed long before the affordable care act ....
That s what s different. that s the first part. the second part is, in 2010, we told issuers to try to give some transition time if they wanted to keep policies as they were currently defined, whether they were in a group market or an individual market, they could. and so some of them elected to do that. now some of them are moving to the new standards. and the standards under the fortable care act are pretty simple. you have to have the 80% mlr so you can t be taking money more than the 20% marketing advertising profit. you had to meet the health benefits. you had to define deductibles in clear terms so people would know what they were buying. and you had to have choices. then there are folks in the individual market who when they go on the site may qualify for tax credits. but this is not this problem existed long before the affordable care act. ....
Is the second part is in 2010 we told issuers to try to give some transition time if they wanted to keep policies as they were currently defined whether they were in a group market or an individual market, they could. and so some of them elected to do that. now some of them are moving to the new standards, and the standards under the affordable care act are pretty simple. you have to have the 80% mlr, so you can t be taking money more than the 20% to marketing, advertising, profit. you had to meet the ten essential health benefits. you had to define co-pay, deductible and diseases in clear and understandable terms so people would know what they were buying. you had to have choices among plans. and then there are folks in the individual market who when they go on the site may qualify for tax credits. some in some states may actually qualify for medicaid expansion. but this is not, this problem existed long before the affordable care act. now folks are transitioning to ....
Didn t get it. it requires insurers to spend 80% of revenue on patient care rather than company overhead. so it was the fed s decision about louisiana, is it fair? louisiana insurance commissioner james donald joins us. good even, sir. tell me exactly, what is it that you wanted? explain the healthcare waiver. it s very complicated, greta, and thank you for inviting us on to show our side, to express our concern about the mlr requirement and how it will affect our market here in louisiana. in louisiana, like many other states, our blue cross has 75% of our individual market. the other companies are the smaller companies that are trying to compete with blue cross, and in my opinion offer the best form of consumer protection and that is an opportunity for consumers to shop and choose, and through competition get a lower cost for ....