I wonder, what percent of Health Insurance Companies spend less than 80% on medical care or quality improvements???
from the article- “The rebates stem from a provision of the healthcare law that requires insurers to spend at least 80 percent of premiums on medical care or quality improvements, rather than advertising and administrative costs, salaries or bonuses. Insurers that devote less to actual healthcare services must pay customers the difference.”
I wonder how they decide who gets what. It should be straight down the line. If you personally spent $1000/annually and the company didn’t pay anything out on you. You should get $200 back. However, it will not be like this. Even most employers will elect to keep whatever refund that they get instead of dispersing it to the employees paying a portion if not 50% the premium.
If a company must spend 80% on claims payments and pay a 10% commission to an agent,the 10% left over to pay salaries and other administrative costs is precious little. If a family’s health coverage costs $700 a month on average, the refund of $150 annually is negigible. If rates keep escalating, this is like a finger in the dike. Leaks will spring up everywhere and then you have a flood. These so called rebates are another Progressive policy and they think they have pulled the wool over everyone’s eyes.
I wonder, what percent of Health Insurance Companies spend less than 80% on medical care or quality improvements???
from the article- “The rebates stem from a provision of the healthcare law that requires insurers to spend at least 80 percent of premiums on medical care or quality improvements, rather than advertising and administrative costs, salaries or bonuses. Insurers that devote less to actual healthcare services must pay customers the difference.”
I wonder how they decide who gets what. It should be straight down the line. If you personally spent $1000/annually and the company didn’t pay anything out on you. You should get $200 back. However, it will not be like this. Even most employers will elect to keep whatever refund that they get instead of dispersing it to the employees paying a portion if not 50% the premium.
If a company must spend 80% on claims payments and pay a 10% commission to an agent,the 10% left over to pay salaries and other administrative costs is precious little. If a family’s health coverage costs $700 a month on average, the refund of $150 annually is negigible. If rates keep escalating, this is like a finger in the dike. Leaks will spring up everywhere and then you have a flood. These so called rebates are another Progressive policy and they think they have pulled the wool over everyone’s eyes.