I’m no health policy expert. But I can read a bill and here is what I see about the taxes that will fund the high risk pool:
There is a $4 per person/month tax to fund the high risk pool.
That section is here:
Section 3597(2). Maximum assessment. The board shall assess each insurer an amount not to exceed $4 per month per covered person enrolled in medical insurance insured, reinsured or administered by the insurer. An insurer may not be assessed on policies or contracts insuring federal or state employees.
But the $4 maximum appears meaningless. In fact, the tax rate may be higher if the high-risk pool loses money.
Section 3597(5). Assessments to cover net losses. In addition to the assessment described in subsections 1 to 3, the board shall assess insurers at such a time and for such amounts as the board finds necessary to cover any net loss in accordance with this subsection.
A. Before April 1st of each year, the association shall determine and report to the superintendent the association’s net losses for the previous calendar year, including administrative expenses and incurred losses for the year, taking into account investment income and other appropriate gains and losses and an estimate of the assessments needed to cover the losses incurred by the association in the previous calendar year.
B. Individual assessments of each insurer are determined by multiplying the absolute value of net losses, if net earnings are negative, by a fraction, the numerator of which is the insurer’s total premiums earned in the preceding calendar year from all health benefit plans, including excess or stop loss coverage, and the denominator of which is the total premiums earned in the preceding calendar year from all health benefit plans.
C. The association shall impose a penalty of interest on insurers for late payment of assessments.
Republican voted for an open-ended, unlimited tax increase on anyone with insurance.
To me, this is absolute proof that they did not read the bill.
This bill would set up a board.
The board would determine the tax rate needed to pay the costs of all the people who insurance companies don’t want to cover.
The board would also design the high-risk pool and determine what gets reimbursed and what doesn’t.
Therefore, Maine Republicans have one-upped President Obama on the Death Panel idea. They are creating a Death and Taxes Panel.
I have offered my signature collection services for the standard fee concerning this bad piece of legislation.
Go up to Rep. Rich Cebra, dare ya. Tell him he didn’t read it. Then brace yourself. He read it, Rep. Volk read it, from their own lips. They all read it. You should too.
I read it.
If Rep. Cebra read it, he didn’t understand it. He just gave a board of unelected persons the power to tax health insurance at any level they feel they need.
This bill is an insurance company bailout. Taxes will be paid to insurance companies so they hopefully, we pray, insure more people. The insurance companies will keep the profits, but Maine will pay for anyone’s health care costs who actually has a serious illness. Profit is privatized, but risk is socialized. Republicans are against ideas like this, in theory.
I’m sorry but why is it that Maine is the only one paying the health care of the tax payers while the tax is on the hands of insurance company? I think I don’t get it but you are right, profit being privatized while risk is being socialized. So I guess that’s why I always hear Americans complain about their health cares.