9 MILLION AMERICANS COULD GET AS MUCH AS $1.4 BILLION IN INSURANCE REBATES
Whether you are a fan of the proposed President Obama health care laws or not, everyone likes free money. The “insurance stimulus” is what some are now calling the possibility that some insurance companies will be forced to pay out about $1.4 billion dollars this summer to policy owners.
This is due to the fact that these health insurance companies did not abide by new rules that were in place starting in 2011 that they spend 80 of money they take in through premiums on medical care. If they spend too little they will be obligated to repay the money by giving a rebate. Obviously, the health insurance industry along with many other agencies are fighting this and doing everything they can to avoid paying out that money.
How much money could this mean for you? According to this article that would be in the ballpark of $160 per person but don’t count on it just yet. Some health care companies DID play by the rules and so will not need to refund anything to their customers. Also, some of the rebate money will, if paid out, go to your employer and not in your pocket.
This is just the latest development that shows how crazy our health care system is. For something as important as health care which impacts every single American, it is such a shame that no one can agree on anything. We have the best doctors in the world right here in this country and it is getting harder and harder to get access to them and to afford them.
On March 26th the Supreme Court will begin listening to arguments on both sides of the Obama health care bill of 2010 and from that we will start to understand the countries direction. There is so much confusion about the Making Health Care Affordable Act that we need the courts to decide, once and for all, what is legal and enforceable.Only then can we start to move forward with a better understanding of what is in store for all of us down the line when we need insurance and a good doctor.
In the meantime though, maybe a few people will be getting an unexpected rebate from those health insurers that everyone loves to hate!
