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Owner59 -> ObamaCare Induces Insurance Rebates! (8/4/2012 11:44:24 AM)
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[:D]
"One of the provision in the Affordable Care Act (ACA), better known as ObamaCare, requires insurance companies to spend at least 80-85% of consumer-paid premiums on the consumer’s healthcare and quality improvement initiates, depending on the size of the market the insurer operates in.
Previously insurance companies were using a larger percentage of the consumer’s premiums for such things as administrative costs and increasing profits. ACA curbed those practices, and last Wednesday insurance companies began to send rebate monies to consumers. Many consumers received a rebate check in the mail this past week.
Insurance companies silently mailed about $1.1 billion to 12.8 million Americans in rebates. This was less than was expected because insurance companies began to institute changes after the passage of ACA last year, per what is known as the Medical Loss Ratio (MLR), a tool long used by state governments to regulate insurers"
http://www.addictinginfo.org/2012/08/03/obamacare-induced-insurance-rebates-did-you-get-one/
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