Health Care Rebate Checks

Originally Posted by chrishydro

I am a republican and very much against the health care bill. With that said know this, i am self employed single father and I pay about 170 a month to keep my kids medical insurance. I open the mail today and there is a 179.00 check in there from Humana. A letter attached states that becasue of the new act this is my rebate.

Kind of cool to get an extra check when you dont expect it.


Cool

It's nice getting unexpected money. Not for this reason, though.

One of the provisions that is hardly talked about in the ACA is the Loss provision rule which requires insurers to spend 85% of policy premiums on health services. Not marketing, not sales, but actual medical services. Those amounts or premiums not spent on services must be refunded to customers. In other words, if you are buying a double cheese burger, you actually have to have a burger with two patties.

Originally Posted by kelly4

It's nice getting unexpected money. Not for this reason, though.

Yea I agree. American Health Insurers should be allowed to continue to rape its customers by providing less service than what is being paid for. They should also be allowed to drop people who dare to get sick after paying years of premiums, deny people based on pre-existing conditions and work in cahoots with pharmaceutical corporations to keep prices high.. #sarcasm

I was suprised to see the market rise Friday, economists cant put their finger on it but maybe someone knew these checks were going out. It to me is no dif than any other stimulas plan in the past. People all over the country had to get the same checks in the mail. I am not special just have standard care plan for the kids. I am not alone, many of my friends that dont have company policies do the same thing. I am sure they all got their checks this weeked. 179 bucks is not all the money in the world but it is money people will spend.

I too received a check. I wasn't expecting it, but it was interesting as I had mentioned the Medical Loss provision in a discussion on another board, so for me it was right on time in two ways. One, who can't use a refund of money they paid out? and Secondly, I had actual proof in my hand of the provision at work. That's not to say I think ACA is perfect and the individual mandate is clearly a bone thrown to insurers who have to now cover things they didn't before, but I do think there is a ton of hand wringing over the ACA based on who enacted it rather than being based on what the act does, factually.

Yay! free money! and youll lose every penny to Grits-N-Gravy when he throws 43 consecutive 7's just before the game gets robbed.

Originally Posted by BigLittlejohn

One of the provisions that is hardly talked about in the ACA is the Loss provision rule which requires insurers to spend 85% of policy premiums on health services. Not marketing, not sales, but actual medical services. Those amounts or premiums not spent on services must be refunded to customers. In other words, if you are buying a double cheese burger, you actually have to have a burger with two patties.

I though it was 80/20. I don't think it matters I am sure in that 1000pages of crap there is a way around it. I would save those checks to pay for the increasing premiums...

Health-insurance companies must tell customers who get a premium rebate this summer that the check is the result of the Obama administration's health-care law, Chicago politics gone wild!

Under the 2010 legislation, insurers that don't spend a specified amount of revenue on actual medical care—as opposed to administrative costs—must refund the difference to customers.

I wonder if we can get the left to agree to use the same tactic by refunding tax payers the administrative costs of the department of education, all tax dollars not used directly on teachers and students will be refunded back to the tax payer.
Should we hold our breath?