Health reform law to yield $1.3 billion in insurance rebates

[one...two...tree 2,762]

WASHINGTON — U.S. consumers and employers will receive about $1.3 billion in rebates from insurance companies this year, according to a new study quantifying a key early benefit of the health care law that President Barack Obama signed in 2010.

That will translate to anywhere between a few dollars and more than $150 for nearly 16 million consumers nationwide, the report by the nonprofit Kaiser Family Foundation found.

Obama's health care law requires insurers to spend a minimum portion of customers' premiums on medical care. The provision was championed by consumer groups concerned that companies were hiking premiums to pay for executive salaries, shareholder dividends and other expenses unrelated to customers' care.

Starting last year, if insurers fail to meet these targets, known as medical loss ratios, they are required to pay rebates the following year. In some cases, the rebates will go only to employers, which may pass them on to employees as rebate checks.

The Kaiser study, released Thursday, analyzed rate documents filed with state regulators nationwide. The Obama administration, which is still laboring to persuade a wary public to support the landmark law, was quick to point to the study and remind the public about the new legal requirements.

Kaiser Chief Executive Drew Altman said the research shows the promise of the law. "Greater regulatory scrutiny of private insurance is improving value and helping to get excess costs out of the system," he said.

The report's authors also noted that the new requirements probably mitigated some rate hikes by pushing insurers to seek smaller increases. Millions of consumers still face steeply rising premiums, however.

The cost of employer-provided family health plans jumped 9 percent last year to more than $15,000, a cost shared by employers and employees, according to an annual survey released in September by the Kaiser foundation and the Health Research & Educational Trust.

Read more here: http://www.mcclatchy...l#storylink=cpy

[^_^ 5,021]

This is redistributionist #######. The stench of socialism is making me sick.

Edited April 27, 2012 by \

[one...two...tree 2,762]

This is redistributionist #######. The stench of socialism is making me sick.

That's money back into the pockets of the consumers. It's called, 'Lookin' out for the little guy.'

[I AM NOT THAT GUY 5,715]

This is redistributionist #######. The stench of socialism is making me sick.

You wish! They should just nationalize the healthcare industry, the oil and gas industry, the automobile industry, all agriculture and food production, and get it over with. You better plan on spending one day a week at the neighborhood cooperative farm and nuclear power plant beginning next year.

[one...two...tree 2,762]

You wish! They should just nationalize the healthcare industry, the oil and gas industry, the automobile industry, all agriculture and food production, and get it over with. You better plan on spending one day a week at the neighborhood cooperative farm and nuclear power plant beginning next year.

You forget the U.N. and it's New World Order agenda disguised as Climate Change.

[I AM NOT THAT GUY 5,715]

You forget the U.N. and it's New World Order agenda disguised as Climate Change.

You are getting wood now, aren't you?

[one...two...tree 2,762]

You are getting wood now, aren't you?

Talk of conspiracy theories is like shooting crack cocaine straight into my veins.

[Obama 2012 1,714]

Anything the commies do causes Steven to get wood.

[Mr. Big Dog 10,747]

Kaiser Chief Executive Drew Altman said the research shows the promise of the law. "Greater regulatory scrutiny of private insurance is improving value and helping to get excess costs out of the system," he said.

The "system" is about $2.4 trillion. The saved cost is $1.3 billion. That's one half of one tenth of a percent (0.05%). So, the cost of an employer sponsored family plan has gone up only 9% vs. the 9.05% it would have gone up otherwise. Whoo hoo!

[Gary and Alla 3,694]

They better hurry because SCOTUS is about to kill it.

[MyLittlePony 340]

Were is the rebate for us who is paying out the ####### for coverage.

[I AM NOT THAT GUY 5,715]

Were is the rebate for us who is paying out the ####### for coverage.

Who are this "us" you are talking about?

[slim 1,525]

I just buck the system and say no to health coverage.

Keeps my rates REEEEEEEEEEAALLY low.

[Obama 2012 1,714]

I just buck the system and say no to health coverage.

Keeps my rates REEEEEEEEEEAALLY low.

Yup.

[I AM NOT THAT GUY 5,715]

I just buck the system and say no to health coverage.

Keeps my rates REEEEEEEEEEAALLY low.

Yup.

Must be the under forty crowd. Wait until you get your first bill for an ER visit, or the doctor orders an MRI, Ultrasound, or CAT Scan for that little ache you have that doesn't go away.