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On Tuesday, Golden State small businesses and their employees got some great news: two of the state’s largest insurers will have to give them over $36 million in insurance rebates because of an Obamacare consumer protection.
The health law forces insurers to spend at least 80 percent of the premiums they charge on paying for actual medical services, rather than administrative overhead or profits. That means more money for ordinary consumers — and less for profitable insurance companies.
The so-called “80/20 rule” put $1.5 billion back into Americans’ pockets in 2011 alone. The average rebate was $151 per family across all insurance markets, and in states where insurers blatantly gouged prices, average rebates topped a whopping $500 per family.
Now, the benefits for Californians with small business health plans are beginning to materialize. Blue Shield of California will be forced to pay back $24.5 million in rebates. Anthem Blue Cross will have to pay back another $12 million.
You just don't have the spine to go out and hold people up in the street.
On Tuesday, Golden State small businesses and their employees got some great news: two of the states largest insurers will have to give them over $36 million in insurance rebates because of an Obamacare consumer protection.
The health law forces insurers to spend at least 80 percent of the premiums they charge on paying for actual medical services, rather than administrative overhead or profits. That means more money for ordinary consumers and less for profitable insurance companies.
The so-called 80/20 rule put $1.5 billion back into Americans pockets in 2011 alone. The average rebate was $151 per family across all insurance markets, and in states where insurers blatantly gouged prices, average rebates topped a whopping $500 per family.
Now, the benefits for Californians with small business health plans are beginning to materialize. Blue Shield of California will be forced to pay back $24.5 million in rebates. Anthem Blue Cross will have to pay back another $12 million.
More: Thanks To Obamacare, Major Insurers Have To Give Back $36 Million To California Small Businesses | By Sy Mukherjee
The positive results of Obamacare are beginning to be noticed. It's good, but just think how much better it could have been if Republicans had helped.
I sure wish there was a 80/20 rule in the federal government. Imagine if the federal government had to hand over rebates for administrative costs? The IRS would have to give up line dancing.
Insurance companies are businesses and deserve to make a profit. I know the bills they've paid on behalf of some family members far exceeded the premuims they paid in. It's that way a lot of the time.
Obama has no right to put a cap on income for any business.
Liberals actually believe that punishing evil corporations like insurance companies financially won't be eventually passed on to the consumers... It's hysterical and sad at the same time.
I like the 80/20 rule
Like I said...He/she/it doesn't have the nerve to go out, wave a gun in someone's face and rob them face-to-face, so they vote for communistic politicians to do their mugging for them.As usual Lapuka is off her/his meds.
Insurance companies pay out way more than they take in on some folks. Especially if someone is dealing with cancer or some other catostrophic disease.
Of course that doesn't resonate with Lapuka. All companies are out to fuck ya as far as he/she/it is concerned. And of course who give a fuck if rates go up to cover that 36 million??
What an idiot.
Thanks To Obamacare, Insurers Must Give Back $36 Million To California Small Business
They won't go up 140% next year.On Tuesday, Golden State small businesses and their employees got some great news: two of the state’s largest insurers will have to give them over $36 million in insurance rebates because of an Obamacare consumer protection.
The health law forces insurers to spend at least 80 percent of the premiums they charge on paying for actual medical services, rather than administrative overhead or profits. That means more money for ordinary consumers — and less for profitable insurance companies.
The so-called “80/20 rule” put $1.5 billion back into Americans’ pockets in 2011 alone. The average rebate was $151 per family across all insurance markets, and in states where insurers blatantly gouged prices, average rebates topped a whopping $500 per family.
Now, the benefits for Californians with small business health plans are beginning to materialize. Blue Shield of California will be forced to pay back $24.5 million in rebates. Anthem Blue Cross will have to pay back another $12 million.
More: Thanks To Obamacare, Major Insurers Have To Give Back $36 Million To California Small Businesses | By Sy Mukherjee
The positive results of Obamacare are beginning to be noticed. It's good, but just think how much better it could have been if Republicans had helped.
Won't they feel blessed when their rates go up 140% next year.
I know the bills they've paid on behalf of some family members far exceeded the premuims they paid in. It's that way a lot of the time.
Obama has no right to put a cap on income for any business.
They won't go up 140% next year.More: Thanks To Obamacare, Major Insurers Have To Give Back $36 Million To California Small Businesses | By Sy Mukherjee
The positive results of Obamacare are beginning to be noticed. It's good, but just think how much better it could have been if Republicans had helped.
Won't they feel blessed when their rates go up 140% next year.
Liberals actually believe that punishing evil corporations like insurance companies financially won't be eventually passed on to the consumers... It's hysterical and sad at the same time.
