Anybody else get their OBAMACARE REFUND CHECK ? ? ? ? ? ? ? ?

[Eliot Rosewater]

First, you all understand ACA applies to ALL health insurance other than Medicare and Medicaid and that which Veterans receive? And one of the things that applies is the 80/20 rule.

The 80/20 Rule generally requires insurance companies to spend at least 80% of the money they take in from premiums on health care costs and quality improvement activities. The other 20% can go to administrative, overhead, and marketing costs. The 80/20 rule is sometimes known as Medical Loss Ratio, or MLR. (taken from website not listed here)


https://www.healthinsurance.org/obamacare/billions-in-aca-rebates-show-80-20-rules-impact/

Billions in ACA rebates show 80/20 Rule’s impact
Medical loss ratio forced carriers to devote more premium dollars to care, and record-high rebates were issued in 2019 following premium spikes in 2018

$1.37 billion in rebates were sent to consumers in 2019 — the largest total in the program’s history

That was last year, this years is now.

How dumb can a person be who opposes this!

PS

Does not apply to Medicare supplements that I know of...

and

Not all who qualify for the rebate (where employer doesnt pay 100% of the premium) will get one if their carrier spends all the money they have on the allocated areas, as in they dont have excess profits over and above. But you would get paperwork explaining that if you dont get one.

[W_HAMILTON]

1. Yes.

My refund was the equivalent of about ~two months worth of premiums.

I was supposed to get one last year, but never saw a check like this year and never saw it reflected as a reduction of my premiums, so, I will have to follow up on that...

[Eliot Rosewater]

2. Absolutely follow up, the employer sends you the check...it is the law

[SoonerPride]

3. Yes. We did.

[Eliot Rosewater]

4. Make sure everyone you know, KNOWS about it.

If you have trumpers or non voters ask them why they want to give that money back to health insurance companies, please.

[SoonerPride]

5. We sell group health insurance to employer groups

And have helped well over 2,000 employees compute their share of the rebate if they contribute any of the premium cost.

For employer groups that pay 100% of the premium the employees get no rebate.

But if they pay dependent costs we compute the %s and inform the employer how much credit to give.

[CottonBear]

6. I got a credit. I haven't had to pay an ACA premium for 10 months!

I got a credit in the previous year too!
I love my ACA insurance! I’m self employed.

I’m so screwed when the ACA is overturned. 😢

[WhiteTara]

7. Does this apply to my

medicare supplemental policy?

[dweller]

8. I only got 1 rebate ever

from a company plan 50/50 .. rec’d a refund for the year I was there.
Was on ACA a few yrs and didn’t expect a refund.. but then the company I was with went to group 50/50 , and I had to join and drop ACA

I questioned about the refund several times and never got an answer, tried looking online to see if it was still the ‘law’ that they refunded and found nothing.
I suspect the employer kept it ... can I still get the refund?

✌🏻

[Eliot Rosewater]

10. Have to ask the employer why they didnt give you one. I dont know what reasons there could be

other than some health insurance companies spend all their money on the 80/20 and then you wouldnt get a rebate as in they dont have excess profits beyond the distribution of the funds on the areas they are allowed to fund.

Ask the employer to either pay you or show you the paperwork that they DID get to give to you saying why you didnt.

[trackfan]

9. I got a few of them, but it's been a while.

I'm not sure how long ago.

[grantcart]

11. $ 400. Should call it the Franken check

[waterwatcher123]

12. We received a $3,000 check from Blue Cross and Blue Shield this year.

Insurers probably hate this provision of the ACA. They can not spend your hard earned health care money on executive compensation, risky investments, lobbying, advertising and buildings. If they are returning premiums, then they are charging everyone too much.

[louis-t]

13. I did!

Like $200, I think.

[Eliot Rosewater]

14. Tell everyone...tell them that in ONE WEEK they can lose EVERYTHING THEY HAVE worked

a lifetime for when preexisting comes back and CAPS come back, when you will have a limit to how much they will pay comes back.

Remarkable the depth of the hatred of Black skin in this country, they will bankrupt themselves, KILL themselves to harm Black.