1.1 billion to be refunded for health care premium overpayment

[GeoFisher]

OK.....part of the Obamunist Manifesto.....I mean the Affordable Care Act, is something that allows for premium dollars to be refunded.

GREAT, FANTASTIC.......so lets take a look at the numbers.

So there are 300 million folks in the united states.........so that means using Obama numbers of 45 million uninsured, that makes 255 million folks insured.

Now, that isn't a really fair number, so lets cut that in 1/2 because there are probably 100 million folks SUCKING of the gubment TIT, and getting free health care......better yet, lets even go a little further......

Lets say there are 100 million red blooded Americans that have health insurance.......excellent.

Now.....for the math part.

1.1 billion / 100 million...........hm........1,100,000,000 / 100,000,000

So, every red blooded american can expect a 11 dollar refund..........BIG FREAKIN DEAL.

Gawd, I love gubment.

Later,

Geo

[Tyme2fish]

I'm glad you figured that out 'cause I ain't got enough fingers and toes to do that math.

[SLP]

I believe that only those companies (I believe I read it was about 1/3 of the insurance companies that were non compliant) that over charged premiums with relations to what they spent on patient care (the required minimum 80%) according to the new law will be required to administer rebates to their policy holders. This isn't an across the board type of rebate as you are alluding to with your math. So while the individual rebates might still not be real large, many could likely be larger then your example and will be paid directly back to those people who paid the premiums to those companies.

[GeoFisher]

I believe that only those companies (I believe I read it was about 1/3 of the insurance companies that were non compliant) that over charged premiums with relations to what they spent on patient care (the required minimum 80%) according to the new law will be required to administer rebates to their policy holders. This isn't an across the board type of rebate as you are alluding to with your math. So while the individual rebates might still not be real large, many could likely be larger then your example and will be paid directly back to those people who paid the premiums to those companies.

Yea, I know..........

But I like my version better

There will be some douchebag companies out there that screw their customers, and REFUSE to pay claims , but I can guarantee you those are not the big boys.

Most BIG national insurance companies are really, really good at this, and if they deal with gubment already, they have a handle on this. This mandate is a little tougher for those lines of business.......85 percent I think.

If you really want to see something, you should go look at businesses all across the spectrum and see just how many of them are SUCCESSFUL on a 15% margin. MIND you, this margin is before all your operating expenses. Pay 80 cents on the dollar in claims BEFORE you pay anything else.

Not many can.

In the health care insurance industry, most companies only make 3-4% profit margins. Sometimes they fluctuate to as much as 7-8% but those are very rare.

Tell me now the GUBMENT will EVER do that.

Later,

Geo

[SLP]

I agree. I certainly don't intend to stop using my private company. That is unless I one day can't afford their premiums. I pray that never ends up happening.

[bassin_bug]

How do these figures calculate with self-insured companies? Are the administrators listed as the insurance provider or will it be the employer? Example: If a large corporation like Bechtel is self-insured but United Healthcare administers their insurance plan, will the calculations remain the same as if United Healthcare was the insurer?

[SLP]

How do these figures calculate with self-insured companies? Are the administrators listed as the insurance provider or will it be the employer? Example: If a large corporation like Bechtel is self-insured but United Healthcare administers their insurance plan, will the calculations remain the same as if United Healthcare was the insurer?

I don't know for certain, but since this part of the law is a mandate for insurance companies collecting premiums from customers, I doubt very much it would apply to a company that chooses to self insure.

Of course any company that self ensures would surely have sought the proper legal advice on the issue to know for certain.