Posts tagged Tom Coburn
My Facebook feed has been filled with gloating about a Rick Ungar column in Forbes: The Bomb Buried in Obamacare Explodes Today [12/2] — Hallelujah!
In his column, Ungar argues that new medical loss ratios established in the Patient Protection and Affordable Care Act (PPACA, “Obamacare”) will force private insurance companies out of business, leaving the market open for a single-payer plan that Ungar and others have wanted all along (therefore, his “hallelujah!”).
What is the medical loss ratio, is it really that critical, and what are the chances it will put insurance companies out of business?
The numerator of the MLR equals the insurer’s incurred claims and expenditures for activities that improve health care quality, and the denominator equals the insurer’s premium revenue minus federal and state taxes and licensing and regulatory fees. — Proskauer
That is, if an insurance company takes in 100 dollars in premiums, and spends 85 dollars of that money on health care, then it has a medical loss ratio of 85 percent. The PPACA sets the medical loss ratio at a minimum of 80 percent for small carriers and 85 percent for large carriers. If the medical loss ratio is below that threshold, then the insurance company is required to issue a rebate check to consumers to bring the ratio to the threshold. (more…)
Talk show day is upon us again. This week is, of course, debt talk. According to Politico, here’s the lineup for this week:
Meet the Press (NBC) — White House chief of staff Bill Daley; Sen. Tom Coburn (R-Oklahoma), one of the Gang of Six; freshman Rep. Adam Kinzinger (R-Illinois); and Newark, NJ, mayor Cory Booker; all talk budget and debt.
This Week (ABC) — Treasury Secretary Timothy Geithner, followed by former Senate Majority Leaders Trent Lot and Tom Daschle, to talk about debt negotiation. And now that New York has legalized gay marriage, New York City Mayor Michael Bloomberg appears with Jonathan Mintz and John Feinblatt, a gay couple whose marriage the mayor will officiate.
Face the Nation (CBS) — Daley; three other members of the Gang of Six: Senators Dick Durbin (D-Illinois), Mark Warner (D-Virginia), and Saxby Chambliss (R-Georgia); and Senate Minority Whip Jon Kyl (R-Arizona). All talk about the budget battle.
State of the Union (CNN) — Geithner, Senator Dianne Feinstein (D-California) and Representative Raul Grijalva (D-Arizona) talk debt. And former Minnesota Gov. Tim Pawlenty, who’s hoping to do well in Ames, Iowa, next month, continues to try to sell himself as the ideal Republican Presidential candidate.
Fox News Sunday — Geithner, freshman Representative Joe Walsh (R-Illinois), and Representative Donna Edwards (D-Maryland) will talk about…what else? The budget.
Newsmakers (CSPAN) — Democratic House Caucus Chairman John Larson (D-Connecticut) for more budget talks.
Political Capital (Bloomberg TV) — Representative Dave Camp (R-Michigan), chairman of the tax-writing House Ways and Means Committee, will also talk about the budget battle.
In this corner…“the most powerful man in America not sitting in the White House.” That’s what Lawrence O’Donnell calls him. He has a signed pledge of loyalty from every influential Republican politician, including state governors, Congressmen, presidents all the way up to (and including) George W. Bush, and every one of the currently-serving GOP senators. And yet members of his own party are often critical of, and sometimes at war with him. Frank Gaffney thinks he’s a Muslim Brotherhood sleeper agent, and Tucker Carlson, of all people, once called him a mean-spirited, dishonest, humorless little creep.
Who is this interesting combatant? It’s Grover Norquist, president of Americans for Tax Reform, who aggressively lobbies for smaller government, lower tax rates, and absolutely no increases in taxation. Ever. For any reason at all. (more…)