Political Quotes

“I do have some experience on that. I wanted to deal with that. It's called the medical loss ratio, and the insurance companies have cut a fat check for themselves over the years by taking a big premium and then paying a very small amount of it out for the medical coverages. In this legislation, the Patients' Bill of Rights, and in the Affordable Health Care Act, they can't do that. They've got to pay, for the individual policies, 80 percent and, for the group policies, 85 percent for medical services. So what was the very first thing they did after this bill was signed into law? We passed it last year, and the President signed it. The very first thing they did was to run down to the Health and Human Services Department and say, Oh, but our advertising ought to be included as a medical expense, and, Oh, these expenses for these kinds of employees, mostly statisticians and the like, that's a medical expense. Fortunately, the administration said, No, we think not. So what we're trying to do with this legislation is make sure that when we pay a dollar, at least we get 80 cents back in medical services. Our friends on the other side would repeal that and allow the insurance companies to take that money--or at least a larger portion of that money--put it in their pockets, give it to their CEOs, whatever, but not use it for medical services. Medical loss ratio is really important.”