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Walker Had Sought Waiver from Cap on Health insurance Industry Profits and Overhead
By: Robert Kraig, Executive Director of Citizen Action of Wisconsin
According to a new report from the Kaiser Family Foundation, over 365,000 Wisconsin consumers will receive over $16 million in rebates this year from health insurance companies that violated the caps on excessive profits and overhead which are included in the Affordable Care Act, the national health care reform law. As Citizen Action of Wisconsin revealed last fall, the Walker Administration sought a waiver from these caps for insures on the individual market, which was rejected by the U.S. Department of Health and Human Services.
These consumer rebates are yet another tangible benefit of the Affordable Care Act. Hard pressed Wisconsin consumers have long known that they were being bilked by health insurance companies to pay for excessive profits, overhead, and bloated CEO salaries.
That the Walker Administration took the side of the large health insurance companies over Wisconsin consumers is appalling. If Walker had his way and received a waiver from these new consumer standards, many hard pressed Wisconsinites families struggling to afford health coverage would have been denied these rebates.
By the Numbers:
Wisconsin Consumers Eligible for Health Insurance Rebates in 2012: 365,395
Total Value of Rebates: $16,556,015
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