In a rare Sunday press conference, President Obama announced that effective January 1, 2013 hospitals must abide by new minimum loss ratio rules. “Hospitals and their insurance partners are getting rich off the backs of poor working Americans. It’s time to take action. Effective January 1, 2013 I have directed that a new policy be implemented to make hospitals accountable to the American people.”
“As you know, my health care bill makes insurance companies accountable. Instead of making enormous profits off the pain and suffering of struggling Americans seeking health care, my bill makes it mandatory for insurance companies to rebate most, if not all of their profits to the masses. Many have already received their rebates so please remember who got those for you in November. There is more to come, trust me. Hospitals should be treated no different. It’s only fair that we ask, no we must demand, that hospitals share in this national effort to lower health care costs. It’s only right. We are all in this together, and together we will achieve universal health care, even for Republicans. ”
Editor’s Note: Obamacare continues to evolve as confusion reigns. Final rules have yet to be promulgated. Plan Sponsors are stressed.