Lynn Swearingen (c) copyright 2010 ALL RIGHTS RESERVED

I think the title and information contained within say it all:

McDonald’s May Drop Health Plan

McDonald’s Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul.

The move is one of the clearest indications that new rules may disrupt workers’ health plans as the law ripples through the real world.

Trade groups representing restaurants and retailers say low-wage employers might halt their coverage if the government doesn’t loosen a requirement for “mini-med” plans, which offer limited benefits to some 1.4 million Americans.

As I pointed out in August and have updated as Health Care Insurers across the Nation have begun dropping individuals due to the cost increases, while we were told “If you like your health care plan – you can keep it” – anyone who has even the simplest understanding of Economics sees that this is not true.

As the Center for Responsive Politics shows in this PDF , 1541 lobbyists worked Capital Hill in FY ’09 on the Health Care Issue alone spending $1.1 Billion over the year.

All in all, the 1,750 clients identified by the Center spent more than $1.1 billion on all federal lobbying and hired more than 5,300 lobbyists for their work. Lobbying disclosure rules do not require an itemization of how much money was spent per issue, so it is impossible to discern how much of this sum was spent strictly on health care reform lobbying.

One wonders how far that $570,000 in ’09 and $750,000+ spent by McDonald’s in the first half of ’10 will go?

McDonald’s denies the above article reported in The Wall Street Journal and Bloomberg, although the Corporate office does admit to “speaking with Federal Regulators to understand” the law. It might get a little dicey for the fast food giant if the memo actually surfaces for their customers and hourly employees to read.

According to an HHS spokeswoman:

“The new law provides significant flexibility to maintain coverage for workers. Additionally, this story is premature as guidance on the new medical loss ratio rules has not even been issued,” said Jessica Santillo. “The administration is working closely with businesses like McDonald’s that are committed to providing health benefits to protect health coverage for their employees.”

Guess Regulators will finally have to read the entire Bill  to know what is contained within after it has already become Law as Madam Speaker indicated.

We should also expect to see more stories like this as Insurance Companies follow Madam Speakers advice as well:

Principal Financial to Quit Medical Insurance

The asset manager and life insurer’s chief executive, Larry Zimpleman, said that although the business was “performing well financially,” it had been declining in size for years. He noted that it wouldn’t be cost-efficient to keep running the business.

“The medical business continues to be one that undergoes rapid change, which would mean investing additional capital into the business to be able to offer competitive products,” Mr. Zimpleman said. “For us, that just does not make sense.”

Principal’s decision comes as the health-care industry faces changes because of a sweeping overhaul signed into law by U.S. President Barack Obama earlier this year.