The entire state of Maine gets an Obamacare waiver.
Aside from Maine’s insurance experiment being a failure, why do they need a waiver on overhead expenses?
If Maine’s own ObamaCare precursor had worked to achieve cost control, then why does the state ration entry into its public option? Furthermore, if such a program really does control cost and overhead, then why can’t the state’s insurers meet the arbitrary 80% threshold set by Congress without having to shut down its business?
I’m confused. Seems like a government, not-profit entity, should be able to meet the threshold of spending 80% of their premiums directly on provider care.
From the orignal posting at The Hill….
Specifically, HHS points out that three insurers make up the bulk of Maine’s individual insurance market: Anthem Blue Cross Blue Shield of Maine (49 percent), MEGA Life and Health Insurance Company (37 percent) and HPHC Insurance Company (13 percent). MEGA had told Maine during preliminary discussions that it “would probably need to withdraw from this market if the minimum loss ratio requirement were increased.”
At least Anthem BCBS is operating in other States with no obvious issues regarding the 80% mandate. I would suggest readers do a google serach on MEGA Life and Health.
