By AP
Frankfort, KY – Kentucky Governor Steve Beshear's administration is seeking a waiver from a portion of the federal health care overhaul that requires large insurance companies to spend at least 85% of premiums on medical care. Insurance Commissioner Sharon Clark made the request in a letter to Health and Human Services Secretary Kathleen Sebelius earlier this month. The regulation's intent is to prevent insurers from using huge shares of premiums on costs associated with administration, marketing or executive bonuses. Kentucky has had a longtime requirement that 65% of premiums be spent on medical care.