Your Junk Insurance Is About to Get Worse, Courtesy of Max Baucus & Rahm Emanuel

By: Jane Hamsher Monday August 24, 2009 9:54 am

If you think your insurance is expensive and doesn't cover much now, wait until the Senate Finance Committee bill gets jammed through the Senate:

In May, the Senate Finance Committee discussed requiring that insurers reimburse at least 76% of policyholders' medical costs under their most affordable plans. Now the committee is considering setting that rate as low as 65%, meaning insurers would be required to cover just about two-thirds of patients' healthcare bills. According to a committee aide, the change was being considered so that companies could hold down premiums for the policies.

Most group health plans cover 80% to 90% or more of a policyholder's medical bills, according to a report by the Congressional Research Service. Industry officials urged that the government set the floor lower so insurers could provide flexible, more affordable plans.