Obamacare Insurance refund

[Anonymous]

Wow.

I just got a notice from my company that we will get a refund from our insurance company because of the Affordable Care Act (something about limits on how much they spent on medical services and admin fees).

I can't imagine it will take too many notices like this before people start forgetting about the individual mandate and "Obamacare" becomes wildly popular.

[Anonymous]

A polite observation is that it is an astutely timed financial result. But just to set expectations, many employees will not see it, since the employers will pocket the refund.

[Anonymous]

My mother got a check for about $25 from her insurer, which I find odd because she's a state government retiree (which is self-funded).

[Anonymous]

Anonymous wrote:Wow.

I just got a notice from my company that we will get a refund from our insurance company because of the Affordable Care Act (something about limits on how much they spent on medical services and admin fees).

I can't imagine it will take too many notices like this before people start forgetting about the individual mandate and "Obamacare" becomes wildly popular.

More spreading the wealth around to buy your vote. It's smoke and mirrors because you are paying it with higher premiums. Your vote can be bought for $100? You were Probably going to vote for Obama anyways.

http://www.cleveland.com/healthfit/index.ssf/2012/07/81500_health_insurance_policyh.html

[Anonymous]

As of 2011, the Affordable Care Act requires insurance companies to spend 80 or 85 percent of the premiums they collect on medical care or improvements to that care.

They can spend the remaining 15 to 20 percent on salaries, advertising and other administrative expenses or keep it as profit. Anything over that must be returned to customers

And this is bad because ???

[Anonymous]

Anonymous wrote:

As of 2011, the Affordable Care Act requires insurance companies to spend 80 or 85 percent of the premiums they collect on medical care or improvements to that care.

They can spend the remaining 15 to 20 percent on salaries, advertising and other administrative expenses or keep it as profit. Anything over that must be returned to customers

And this is bad because ???

Since when does government get to chose how money is spent in private corporations? The idea should be if you don't like your insurance service go to another one that manages their business better and provides better services. The affordable healthcare act did nothing to encourage competition. There is no physical monopoly on health insurance (like electrical utilities) so you cannot argue health insurance is a mandatory monopolized utility due to physical limitations, it is that way due to bureaucratic and man made state and federal laws.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow.

I just got a notice from my company that we will get a refund from our insurance company because of the Affordable Care Act (something about limits on how much they spent on medical services and admin fees).

I can't imagine it will take too many notices like this before people start forgetting about the individual mandate and "Obamacare" becomes wildly popular.

More spreading the wealth around to buy your vote. It's smoke and mirrors because you are paying it with higher premiums. Your vote can be bought for $100? You were Probably going to vote for Obama anyways.

http://www.cleveland.com/healthfit/index.ssf/2012/07/81500_health_insurance_policyh.html

Spreading the wealth from insurance companies to the poor schlubs who pay inflated insurance premiums? Yeah, that's bad.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

As of 2011, the Affordable Care Act requires insurance companies to spend 80 or 85 percent of the premiums they collect on medical care or improvements to that care.

They can spend the remaining 15 to 20 percent on salaries, advertising and other administrative expenses or keep it as profit. Anything over that must be returned to customers

And this is bad because ???

Since when does government get to chose how money is spent in private corporations? The idea should be if you don't like your insurance service go to another one that manages their business better and provides better services. The affordable healthcare act did nothing to encourage competition. There is no physical monopoly on health insurance (like electrical utilities) so you cannot argue health insurance is a mandatory monopolized utility due to physical limitations, it is that way due to bureaucratic and man made state and federal laws.

How about this idea? If you don't like the anti-gouging measures, you can go into a different business.

[Anonymous]

We received a similar letter from our insurer. It noted that we can contact DH's employer to ask about how the funds will be distributed.

[Anonymous]

You don't think there is a de facto monopoly on insurance options?

There is no point in arguing if you really believe that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

As of 2011, the Affordable Care Act requires insurance companies to spend 80 or 85 percent of the premiums they collect on medical care or improvements to that care.

They can spend the remaining 15 to 20 percent on salaries, advertising and other administrative expenses or keep it as profit. Anything over that must be returned to customers

And this is bad because ???

Since when does government get to chose how money is spent in private corporations? The idea should be if you don't like your insurance service go to another one that manages their business better and provides better services. The affordable healthcare act did nothing to encourage competition. There is no physical monopoly on health insurance (like electrical utilities) so you cannot argue health insurance is a mandatory monopolized utility due to physical limitations, it is that way due to bureaucratic and man made state and federal laws.

If you can mandate medical procedures for women seeking abortions then you can certainly regulate insurance premiums.


Republicans: when do people get Tge same respect that you give companies?

[Anonymous]

There are many places in this country where there is only one insurance option -- I live in one such place. The next best option would require me to drive 70 miles to the nearest in-network doctor and 115 miles to the nearest in-network hospital.

Don't tell me health insurance isn't a monopoly.

[Anonymous]

Anonymous wrote:There are many places in this country where there is only one insurance option -- I live in one such place. The next best option would require me to drive 70 miles to the nearest in-network doctor and 115 miles to the nearest in-network hospital.

Don't tell me health insurance isn't a monopoly.

Then treat it like one and mandate they break them up, like the telephone company

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are many places in this country where there is only one insurance option -- I live in one such place. The next best option would require me to drive 70 miles to the nearest in-network doctor and 115 miles to the nearest in-network hospital.

Don't tell me health insurance isn't a monopoly.

Then treat it like one and mandate they break them up, like the telephone company

The breakup of the telephone company created monopolies in the regions. It didn't solve the problem at the regional level.

[Anonymous]

And the phone company wanted the break up. It made them more profitable than ever and we pay more than we ever would have if it had remained a public service. I worked for them then and know how this went.