Kansas, North Dakota and other state insurance commissioners snubbed a meeting with President Barack Obama set up to discuss allowing some people to keep medical plans that don’t meet the requirements of the U.S. health law.
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 U.S. will give states $250 million in grants over five years to strengthen their ability to review premiums, starting with $51 million this year, said Kathleen Sebelius, the federal health secretary, in a statement yesterday. The program, announced by the White House yesterday, expands funding for states to scrutinize “unreasonable” rate increases.
UnitedHealth Group Inc. and insurers in Florida and Oklahoma stopped offering children-only health coverage because of the potential added costs of sick youngsters under the new U.S. health-care law, state officials said today.
More than half of the state exchanges to be created under the 2010 U.S. health-care overhaul are expected to be run by the federal government, offering insurers and consumers uniform criteria in those areas.
Health insurers may abandon some markets unless the Obama administration waives a rule set to take effect next year on how much companies must spend on patient care, state insurance commissioners said.
Insurers led by UnitedHealth Group Inc. and WellPoint Inc. risk losing access to as many as 24 million customers a year under a plan announced by the White House today that expands funding for states to scrutinize “unreasonable” rate increases.
President Barack Obama’s re-election means his overhaul of the U.S. health-care system, opposed by most Republicans, will move ahead in all 50 states, with or without the cooperation of their governors.