WellPoint CFO says feds may phase in medical-spending rule

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based WellPoint Inc.’s chief financial officer said U.S. regulators may phase in requirements on how much health insurers spend on medical care to avoid pushing plans out of the market for people who buy their own coverage.

The National Association of Insurance Commissioners is considering a phase-in of the requirement that plans spend at least 80 percent of premiums they collect on customers’ care, Wayne DeVeydt, WellPoint’s CFO, said Wednesday in a presentation at a Goldman Sachs Group Inc. investor conference in Los Angeles.

The delay has been discussed for policies in the individual market, DeVeydt said.

The commissioners’ group has said it will make recommendations in July, and the U.S. Health and Human Services Department is expected to issue a final rule after that.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
thisissue1-092914.jpg 092914

Subscribe to IBJ