The Medical Loss Ratio Rule

There is a healthcare law called ‘The Medical Loss Ratio Rule’  This law says any money you pay in healthcare premiums, the insurance company must spent 80% on your healthcare  If they don’t, they’re supposed to refund you  Yes, this is real  Insurance companies found a loophole. They bought the doctors, the pharmacy benefits managers, the pharmacies and the clinics  Now, they skyrocket prices on everything from doctors visits, tests and prescriptions so that your 80% is spent  But it’s not really spent, they’re just paying themselves inflated prices so it actually doesn’t cost them anything. They just pocket all the money and never have to refund premiums  This provision is written in the Affordable Care Act, called the 80/20 rule  80% must be spent on care or refunded, 20% can be profit for the insurance company  We are being robbed blind