Insurers' new reality: More for care, less profit NEW YORK (CNNMoney.com) -- Insurers were dealt a blow Thursday in their attempts to get support to push back the deadline for boosting the premium money they pay for patient care. Beginning on Jan. 1, insurance companies will have to spend 80% to 85% of the premiums they collect on medical care instead of toward their own profits and overhead costs. http://money.cnn.com/2010/10/21/news/economy/health_insurance_mlr_vote/ This spending allotment is known as the "medical loss ratio." Right now, in some states insurers don't have to meet any minimum requirements. Other states require as little as 40% of premiums to be used for medical care [...] Insurers want more time. Just last week, the NAIC sent a letter to Health and Human Services Secretary Kathleen Sebelius, in which the group said that all states may need a phase-in approach. In the letter the group said, "Insurance companies in some markets will need a transitional period to comply with the 80% MLR limit. In the absence of the transitional period, the markets of some states are likely to be "destabilized."