Quote Originally Posted by SLP View Post
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