I received a check from BCBS that said because of obamacare (medical loss ratio or 80/20 rule) and its mandates they have to send me my part of the action. It seems that insurance companies are mandated to spend 80% of what they receive on healthcare services such as doctors, hospital bills and such. Anthem only spent 76.50%of what they received so they must return the difference as a rebate.....anthem of Kentucky received $303,004,189.00 in premiums.
Premiums won't go down they said and they won't just credit the money to the upcoming premium but will only cut a check. Why do I feel like they are setting us up for a swift kick in the nads???