Star Tribune: Obama extols Franken provision in Obamacare
With his signature health care law under attack, President Obama used the White House podium Thursday to extol a provision authored by U.S. Sen. Al Franken, D-Minn., that he said has already paid dividends to millions of Americans.
The so-called Medical Loss Ratio, has been credited with putting money back into the pockets of over 8.5 million Americans by requiring that health insurers spend at least 80 percent of premium dollars on actual health services, as opposed to administrative overhead.
Obama said the provision has lowered premiums and provided rebates averaging $100 each. Much of that money, however, goes to employers who provide insurance.