Obamacare Would Make Insurance Companies Give Consumers Their $2 billion Back

[Uncle Joe]

17. This is the motivating dynamic that will drive up health care costs even faster than

it's going up now.

"Prior to the Affordable Care Act, in most states there was no system for making sure that the consumers' premiums actually went toward their health care expenses and not into the pockets of insurance company CEOs. Thanks to Obamacare, insurers must spend at least 80 percent of premium dollars on health care expenses. Any less than that, and they are required to send their customers a refund to make up the difference."

For profit "health" insurance corporations will still be driven by the same capitalistic desires to maximize profits for their owners, bonus loving management and stockholders.

20% of $100,000 is more than 20% of $10,000 so long as that remains true, for profit "health" insurance corporations will have even less motivation to put downward pressure on the costs of medical goods and services.

Hospitals, doctors and big pharma will be more than happy to increase their prices, knowing that it's not only in their best financial interests but the for profit "health" insurance industry paying the bill as well.

Premium dollar increases will follow suit.

Thanks for the thread, ProSense.