Political Quotes

Greg Ganske: “Let us talk for a minute about the cost of liability. We have heard a lot of inflated estimates of this. Texas, as you…”

On the recordJune 18, 1998
Let us talk for a minute about the cost of liability. We have heard a lot of inflated estimates of this. Texas, as you know, passed a liability provision taking away the exemption for HMOs in Texas. So one of the HMOs asked its actuarial firm how much extra should they raise the cost of a premium, and they asked the actuarial firm that is in the pockets of the HMOs, the one that does all the HMOs' bidding, Milliman & Robertson, well outlined by an expose, I would say, in the Wall Street Journal just recently. Even so, when Milliman & Robertson had to put the number on the line for the company that was actually going to do this, the liability provision would have raised the cost of the premium, I think, 0.3 percent. No, I am sorry, 34 cents per month, 34 cents per month.
Said by
Greg Ganske
Republican · Iowa
Source
govinfo.gov

Editor's note · Context

Discussing the impact of liability provisions on health maintenance organizations (HMOs) and premium costs.

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