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How Much of Your Health Care Premiums Actually Go to Your Care? Not Much
ABCNews -- A significant portion of health insurance premiums go not for actual medical care but for private jets, generous CEO salaries and underwriters who decide when to drop patients who become too expensive, according to a Senate committee report. Sen. John D. Rockefeller, D-W.Va., chairman of the Senate Committee on Commerce, Science and Transportation, wrote to 15 of the biggest health insurance companies in August, asking them to provide information on how much of policyholders' monthly premiums was spent on medical care versus the amount that went to administrative costs and company earnings. Such figures are known in insurance industry-speak as "medical loss ratios." But when insurance companies balked, saying the information was...
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11.24.09 - Updated 4:36am ET
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