Thanks To Obamacare, Insurers Must Give Back $36 Million To California Small Business

[Lakhota]

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.

 

[Oddball]

You just don't have the spine to go out and hold people up in the street.

 

[MeBelle]

You just don't have the spine to go out and hold people up in the street.

meh...lakhota misses the point.
Whooooooooooooosshhshshsshsshs

 

[Dot Com]

I like the 80/20 rule

 

[bripat9643]

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.

 

[whitehall]

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.

 

[Clementine]

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.

 

[Lakhota]

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.

I suggest you take a look at Social Security and Medicare overhead.

 

[tjvh]

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.

 

[Dot Com]

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.

so you know one person who wasn't denied a procedure? And your going to extrapolate that to 50,000,000 people? Cons and anecdotal evidence lol

 

[Lakhota]

It seems that some posters on this thread choose to ignore the horror stories of how many sick people have been "unfairly" treated by insurance companies.

 

[boilermaker55]

You don't think they are ******* you now? Really?

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.

 

[healthmyths]

I like the 80/20 rule

FACTS The three largest health insurance companies already pay out an average of 83% dumb f...k!

Aetna Reports Aetna | Investor Relations | Annual Reports

In 2012 of every dollar in premium 81.5% went out in CLAIMS!!!
It's called Medical liability ratio.. i.e. how many dollars paid out to dollars coming in!
Revenue $8,864.1m
Net income $511.0m
or 5.7% of gross revenue as profit --- BEFORE THEY PAID FEDERAL INCOME TAXES YOU dummy!!!!


WellPoint, Inc WellPoint, Inc | Investor Relations | Annual Reports
Benefit Expense Ratio: The benefit expense ratio was 87.3 percent in the fourth quarter of 2012,
Total Operating Margin 2.8% of gross revenue as profit --- BEFORE THEY PAID FEDERAL INCOME TAXES YOU dummy!!!!

UnitedHealth care UnitedHealth Group, Inc. | Company Spotlight Profile
Summary of UNITEDHEALTH GROUP INC - Yahoo! Finance
Premiums $ 27,274
Medical costs 22,569 82.7% of the premiums went out in CLAIMS you dumb f..k!
Net margin 4.1% --BEFORE THEY PAID FEDERAL INCOME TAXES YOU dummy!!!!

SO YOU DUMMIES out that they keep saying all the insurance companies do is PAY the CLAIM you are right!
BUT YOU DUMMIES also totally ignore the realities which are:
A) The above 3 largest health insurers PAY OUT AN AVERAGE of 83 cents for every $1 in premium! DUMB F...KS why do you suppose they do that if they could make billions more???

STATE INSURANCE regulations !!

B) The 3 largest insurers average NET Profit 4.2% --BEFORE THEY PAID FEDERAL INCOME TAXES YOU dummy!!!!


Now these numbers are REAL not made up not guesses like you idiots do.. but from financial reports that if lied about the auditors,etc.. GO TO JAIL!

Finally MORE realities...

Of the 83 cents paid out by these 3 largest according to the EXPERTS,... i.e. physicians.........

Physicians estimate the cost of defensive medicine in US at $650 to $850 billion per year. This is 26% to 34% of all US healthcare costs.

• Up to 92% of US physicians practice defensive medicine.
• 76% of physicians report that defensive medicine decreases patient access to healthcare.
• 53% of physicians report delaying new techniques, procedures, and treatments due to fear of lawsuits.
• Patients most affected by defensive medicine include those visiting emergency rooms and those requiring surgery.
• Women are most affected by defensive medicine.
• Emergency medicine, primary care, and OB/GYN physicians are most likely to practice defensive medicine.
• 79 to 83% of surgeons and OB/GYNs have been named in lawsuits.

Health News Observer ? Physicians Estimate The Cost Of Defensive Medicine In Us At 650 To 850 Bill Articles

But to financially ignorant people like you you DEFEND the millionaire lawyers that make $200 billion a year that out of FEAR cause physicians to do the above!!!

 

[Claudette]

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 **** ya as far as he/she/it is concerned. And of course who give a **** if rates go up to cover that 36 million??

What an idiot.

 

[Oddball]

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 **** ya as far as he/she/it is concerned. And of course who give a **** if rates go up to cover that 36 million??

What an idiot.

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.

 

[OohPooPahDoo]

Thanks To Obamacare, Insurers Must Give Back $36 Million To California Small Business

But what about Death PAnels?

 

[OohPooPahDoo]

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.

They won't go up 140% next year.

 

[OohPooPahDoo]

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.

Well no ******* shit - do you understand the concept of "insurance" ? For ***** sake!

Obama has no right to put a cap on income for any business.

He didn't. Congress has required a cap on the medical-loss ratio - not income.

 

[LordBrownTrout]

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.

They won't go up 140% next year.

146 percent rises. You are such a perfectionist.

 

[OohPooPahDoo]

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 had no idea it was considered "punishment" to pass a law requiring everyone buy your product! That's a good one there!