Kentucky obtains federal waiver on insurance provisions

Insurance companies in Kentucky have been granted a waiver from a provision of the health care law that requires insurers to spend at least 80% of the money they collect from premiums on improving medical care. The waiver does not remove mandate, however, and insurers will still need to spend 75% of their premiums toward medical care. According to federal law, if companies do not follow this mandate, they must refund the money to policyholders. The state’s Department of Insurance petitioned the federal government for a waiver in an effort…

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