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Now that Obamacare will not be overturned, is it a coincidence that?
it was recently announced that insurance premiums will have the SMALLEST increase in 15 years? Only about 5% this year. And "no"...Obama did not say the rates would come down overall, so save the bandwidth. He said the rates of increase would come down, saving Americans money in the long run.
Kind of blows up the whole "premiums will escalate drastically" argument put up by anti-Obama folks. Obama said the rates of increases would come down....and they are! Another promise kept by Obama.
1 Answer
- Anonymous9 years agoFavorite Answer
Is it a coincidence?
No.
Part of ObamaCare is the mandate for all insurance companies to actually use the premiums they collect on health Care, or, return it to the policy holders.
Jul 31, 2012 6:21pm
Health Insurance Rebates: Is Your Check In The Mail?
A new provision of the Affordable Care Act — called the Medical Loss Ratio, or the “80/20″ provision — could mean some Americans will see a rebate from their health insurance companies tomorrow.
The provision is aimed at holding health insurance companies accountable for how they spend the money collected through premiums. It compares the dollars they spend on health care costs vs. other overhead costs — like marketing, salaries and administrative expenses.
Under the law, small-group and individual-plan insurance companies that annually spend less than 80 percent of premium dollars on medical care owe their customers a rebate. For insurers to large businesses, the percentage split is 85-15.