BabushkaLady
21st July 2012, 08:16 PM
I received a check in the mail from my health insurance company. I was first shocked at getting one, and then shocked at the amount. It is equivalent to one month's premium give or take a little. Wow!
I then read the attached letter explaining it. It proceeded to tell me that "This refund is required by the Affordable Care Act – the health reform law."
"The Affordable Care Act requires xxxx insurnace company to issure a refund to you if xxxx does not spend at least 80 percent of the premiums it receives on health care services, such as doctors and hospital bills, and activities to improve health care quality, such as efforts to improve patient safety. No more than 20 percent of premiums may be spent on administrative costs such as salaries, sales, and advertising. This requirement is referred to as the "Medical Loss Ratio" standard or the "80 / 20 rule". The 80 / 20 rule in the Affordable Care Act is intended to ensure that consumers get value for their health care dollars. You can learn more about the 80 / 20 rule and other provisions of the health reform lat at: http://www.healthcare.gov/law/features/costs/value-for-premium/index.html "
It goes on to break down the total premium dollars and the percent spent on health care and activities, blah, blah, blah . . . .
My elation of receiving the check dissipated after I was fed the BS that the government was behind my rebate.
How stupid do they think we are? If they would have just let the medical insurance companies compete outside the fixed markets, I wouldn't be paying such a high premium to start with. If the .gov would have allowed us self-employed fools to buy pooled-group insurance, I wouldn't be paying such a high premium. If the .gov would stop forcing hospitals to give free medical care to illegal immigrants, I wouldn't be paying such high premiums.
So what to do with my rebate? They seemed concerned that I get value for my health care dollars . . . I'm thinking that ammo and preps will go a long way for my health.
Rant off.
I then read the attached letter explaining it. It proceeded to tell me that "This refund is required by the Affordable Care Act – the health reform law."
"The Affordable Care Act requires xxxx insurnace company to issure a refund to you if xxxx does not spend at least 80 percent of the premiums it receives on health care services, such as doctors and hospital bills, and activities to improve health care quality, such as efforts to improve patient safety. No more than 20 percent of premiums may be spent on administrative costs such as salaries, sales, and advertising. This requirement is referred to as the "Medical Loss Ratio" standard or the "80 / 20 rule". The 80 / 20 rule in the Affordable Care Act is intended to ensure that consumers get value for their health care dollars. You can learn more about the 80 / 20 rule and other provisions of the health reform lat at: http://www.healthcare.gov/law/features/costs/value-for-premium/index.html "
It goes on to break down the total premium dollars and the percent spent on health care and activities, blah, blah, blah . . . .
My elation of receiving the check dissipated after I was fed the BS that the government was behind my rebate.
How stupid do they think we are? If they would have just let the medical insurance companies compete outside the fixed markets, I wouldn't be paying such a high premium to start with. If the .gov would have allowed us self-employed fools to buy pooled-group insurance, I wouldn't be paying such a high premium. If the .gov would stop forcing hospitals to give free medical care to illegal immigrants, I wouldn't be paying such high premiums.
So what to do with my rebate? They seemed concerned that I get value for my health care dollars . . . I'm thinking that ammo and preps will go a long way for my health.
Rant off.