 Image: DonkeyHotey under CC 3.0 |
Some people may worry that this is what at least a portion of their health insurance premiums has been paying for: according to Bloomberg’s examination of major insurers’ tax records, they spent a total of $86 million on the U.S. Chamber of Commerce’s campaign to defeat the Obama administration’s healthcare reform legislation in 2009.
These expenses–public rallies and events, media advertisements, and sponsored polling meant to sway opinion–would probably not qualify as falling under the medical loss ratio guidelines, which say that a certain percentage of customer premiums should be spent on providing care through their health insurance plans, as opposed to administrative and other expenses. Cigna and United HealthCare were among the biggest givers. In addition, the Chamber of Commerce is only one of the myriad interest groups opposing the law.
Was it a worthwhile investment? The bill passed early this year, so maybe not. However, they appear to have successfully swayed the views of a significant portion of the American public. The Republicans now taking over Congress will do their best to weaken the law, if not repeal it entirely.
Tags: democrats, health insurance companies, health insurance plans, health insurance premiums, health insurers, healthcare reform, obama administration, republicans
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