Guess my Obamacare rebate

[tucker6]

I pay $350/month for a truly crappy $5k deductible policy. So the other day, BC/BS of SC sends me this letter (verbatim).

"This letter is to inform you that you will receive a rebate for a portion of your health insurance premiums. This rebate is required by the Affordable Care Act - the health reform law.

The Affordable Care Act requires BC/BS of SC to issue a rebate to you if BC does not spend at least 80% of the premiums it receives on health care services, such as doctors and hospital bills, and activities to improve health care quality, such as efforts to improve patient safety. No more than 20% of premiums may be spent on administrative costs such as salaries, sales, and advertising. This requirement is referred to as the "Medical Loss Ratio" standard or the "80/20 rule". The 80/20 rule in the Affordable Care Act is intended to ensure that consumers get value for their health care dollars. You can learn more about the 80/20 rule and other provisions of the health reform law at (blah, blah, blah).

The Medical Loss Ratio rule is calculated on a State by State basis. In SC, BC did not meet the Medical Loss Ratio standard. In 2013, BC spent only 77.1% of a total of $189,012,450 in premium dollars on health care and activities to improve health care quality. Since it missed the 80% target by 2.9% of premiums it received, BC must rebate 2.9% of your health insurance premiums. We are required to provide this rebate to you by August 1, 2014, or apply this rebate to your premium that us due on or after August 1, 2014. Enclosed you will find a check."

The check was for $3.52. :lol:

I surmise that some fine print was missing from this letter's language to go from an expected rebate of $122 (2.9% of $4,200) to $3. Glad Obama is on my side. I'd hate to think of the pickle I'd be in if he was my enemy (or enema as the case may be).

[rastajenk]

Invest it wisely.

[tucker6]

Invest it wisely.
I'm waiting for my premium subsidy of "about" $2,500 to really hit the jackpot. It should be coming soon. :rolleyes: I may give it to Proximity as a bankroll for his poker tour. Don't call me Proximity. I'll call you buddy. :D

[JustRalph]

A moon pie and an RC cola ........that should cover it :ThmbUp:

[HUSKER55]

ARE you sure he knows what to do with it?

I think you should send it to me! :rolleyes: :D :D

[Zydeco]

Trying to post NRBQ doing the song "RC cola and Moon Pie"......if i knew what i was doing it might be funny. Help Ralph????

[JustRalph]

Trying to post NRBQ doing the song "RC cola and Moon Pie"......if i knew what i was doing it might be funny. Help Ralph????


http://youtu.be/L2xOahFGrXE

L2xOahFGrXE

[Zydeco]

Thank you sir! Good song

[mostpost]

I pay $350/month for a truly crappy $5k deductible policy. So the other day, BC/BS of SC sends me this letter (verbatim).

"This letter is to inform you that you will receive a rebate for a portion of your health insurance premiums. This rebate is required by the Affordable Care Act - the health reform law.

The Affordable Care Act requires BC/BS of SC to issue a rebate to you if BC does not spend at least 80% of the premiums it receives on health care services, such as doctors and hospital bills, and activities to improve health care quality, such as efforts to improve patient safety. No more than 20% of premiums may be spent on administrative costs such as salaries, sales, and advertising. This requirement is referred to as the "Medical Loss Ratio" standard or the "80/20 rule". The 80/20 rule in the Affordable Care Act is intended to ensure that consumers get value for their health care dollars. You can learn more about the 80/20 rule and other provisions of the health reform law at (blah, blah, blah).

The Medical Loss Ratio rule is calculated on a State by State basis. In SC, BC did not meet the Medical Loss Ratio standard. In 2013, BC spent only 77.1% of a total of $189,012,450 in premium dollars on health care and activities to improve health care quality. Since it missed the 80% target by 2.9% of premiums it received, BC must rebate 2.9% of your health insurance premiums. We are required to provide this rebate to you by August 1, 2014, or apply this rebate to your premium that us due on or after August 1, 2014. Enclosed you will find a check."

The check was for $3.52. :lol:

I surmise that some fine print was missing from this letter's language to go from an expected rebate of $122 (2.9% of $4,200) to $3. Glad Obama is on my side. I'd hate to think of the pickle I'd be in if he was my enemy (or enema as the case may be).
Don't cash the check. Seriously. You need to contact your insurance company or agent. What they sent you was 2.9% of the refund you were entitled to rather than 2.9% of your premium payments for the year.

Probably it was an honest mistake and hopefully you can get the full refund.

Whoever your insurance company is, Obama does not work for them.

[horses4courses]

Don't cash the check. Seriously. You need to contact your insurance company or agent. What they sent you was 2.9% of the refund you were entitled to rather than 2.9% of your premium payments for the year.

Probably it was an honest mistake and hopefully you can get the full refund.

Whoever your insurance company is, Obama does not work for them.

Leave it to a liberal to correct the math..... :ThmbUp:

[davew]

Don't cash the check. Seriously. You need to contact your insurance company or agent. What they sent you was 2.9% of the refund you were entitled to rather than 2.9% of your premium payments for the year.

Probably it was an honest mistake and hopefully you can get the full refund.

Whoever your insurance company is, Obama does not work for them.


and file a complaint with your states attorney general - someone is diverting the other 97.1% to themselves to keep the books balanced.

[Tom]

Whoever your insurance company is, Obama does not work for them.

He works for ALL of them.

[mostpost]

and file a complaint with your states attorney general - someone is diverting the other 97.1% to themselves to keep the books balanced.
I kind of doubt that.

[davew]

I kind of doubt that.


0bama hasn't seen a smidgen of corruption on his watch, so you are probably correct.

[Tom]

That's true.
This is the most transparent administration in history.
Why, you can see right through it!

[mostpost]

0bama hasn't seen a smidgen of corruption on his watch, so you are probably correct.
If there is any corruption in this case-personally I think it is incompetence-it is on the part of the insurance companies. Yet somehow you manage to tie it to Obama. The letter was written by the insurance company. The rebate was calculated by the insurance company. The check was cut by the insurance company. The letter was mailed by the insurance company. Obama had no hand in this at any point.

Anyone who thinks can see this, but you have several people agreeing with you. :bang: :bang:

[Tom]

Obama had no hand in this at any point.

Oh, sorry.
In fact, Obama created the situation that enabled this action.
Obama must take the good with the bad.
Even though there is no good! :lol: :lol: :lol:

[johnhannibalsmith]

Oh, sorry.
In fact, Obama created the situation that enabled this action.
Obama must take the good with the bad.
Even though there is no good! :lol: :lol: :lol:

That's what he willfully ignores... and then defends.

The insurance industry is still the bad guy, but now we're all forced to cooperate and perpetuate in the scam. What a great guy, I can look forward to this bullshit now if I decide to comply.

[Actor]

The check was for $3.52. :lol:

I surmise that some fine print was missing from this letter's language to go from an expected rebate of $122 (2.9% of $4,200) to $3. Glad Obama is on my side. I'd hate to think of the pickle I'd be in if he was my enemy (or enema as the case may be).Take and breakage! :bang:

[Clocker]

Obama had no hand in this at any point.



You are correct. This particular mess is a minor part of the train wreck called ObamaCare. ObamaCare was written by insurance industry lobbyists, rammed through Congress by Pelosi and Reid, with Rahm Emanual scheming behind the scenes, and administered by a clueless HHS Secy. Obama had no hand in it.

Obama was a cheerleader on the sidelines, cheering on the team without a clue about what was in the bill, and still knows nothing about it except what he learns from the media.

[fast4522]

What.....