THE AFFORDABLE CARE ACT- BETTER KNOWN AS OBAMACARE IS WORKING!!!

[kjackson227]

I'm so excited because I work in the Human Resources department of my company, and guess what came through the mail?!?!?

A big Medical Loss Ratio rebate check in the amount of $20,000.00 from United HealthCare for our group insurance!

I guess some employers won't be able to use the sorry excuse of not hiring because of the cost of insurance any longer.

Just fyi, insurance companies must reimburse individuals and/or employers if 85% of the premiums paid aren't used for your health care. Fifteen percent of the premium can only be used for administrative costs such as salries, sales, and advertising.

Insurance companies that fail the 85/15 rule must mail rebates by August 1, 2012.

[mopinko]

1. so, what will your company do with that money?

if DH's company got a check, i think they would stick it in their pocket.

[kjackson227]

2. If the group health plan is a non-federal governmental plan, the employer or group policyholder...

must distribute the rebate in one of two ways...

1. Reduce the premium for the upcoming year; or...

2. Provide a cash rebate to employees or subscribers that were covered by the health insurance on which the rebate is based.

Employees or subscribers should contact their employers or group policyholder directly for information on how the rebate will be used. For general information about your rights regarding the rebate, you may contact the Dept. of Labor's Employee Benefits Security Administration at 1(866)-444-EBSA (3272).

[Pab Sungenis]

3. I was shocked that this part of the law survived the Supreme Court

but thrilled that it did.

[kjackson227]

4. Yep, it did survive...

So, anyone with health insurance whether it's an individual plan, or group, should call either their insurance carrier or their human resources department to see if you will receive a MLR rebate. If you do have group insurance from your employer, then most likely they'll use it towards next year's premiums.

[ellisonz]

5. It's helping me too...

No gouging for COBRA coverage!

[kjackson227]

11. Great news!!! I'm so happy...

When ACA becomes fully effective in 2014, a lot of people will have more choices with lower costs.

[coalition_unwilling]

6. Caleb Medley (Aurora shooting victim who faces $2 million medical bill

and is uninsured) - meh, not so much.

I guess it's working if you are employed and already have insurance. Small consolation to Medley and me.

[Tarheel_Dem]

8. So if it doesn't help you "personally", it shouldn't help anyone? Kinda selfish, doncha think?

[kjackson227]

9. Sorry that it's not working for you...

but it has already helped millions of people (including seniors). Do you not have any type of insurance? If you can't afford insurance, according to ACA they have clinics in different areas that can be utilized until the ACA is in full effect in 2014. Does that not help?

[coalition_unwilling]

12. No insurance I'm aware of. I'll check out the clinic angle. Thanks

for the tip!

[savalez]

7. Yep, and this part is helping a friend of mine.

As a result of the federal Affordable Care Act of 2010, California has a contract with the federal Department of Health and Human Services to establish a federally-funded high risk pool program to provide health coverage for eligible individuals. The program will last until December 31, 2013 when the national health reform is set to begin. After that date, there will no longer be a need for high risk pools because federal rules will not allow insurers to reject persons with pre-existing conditions or charge them higher rates than those without such conditions.

http://www.pcip.ca.gov/Home/default.aspx

[kjackson227]

10. I'm glad it's helping your friend...

but our risk pool here in Texas is really high. At least we do have a few choices until 2014. I retire in 2014, and will (HOPEFULLY), be able to use the exchanges then.

[savalez]

13. Does TX offer

something like the CA program too?

I too am relying on the upcoming exchanges.

Congrats on your upcoming retirement.

[kjackson227]

14. Texas has had a risk pool for some time now...

but the last time I checked, the premiums (which was about 5-7 years ago), were around $500-$600 per month depending on your zip code (area), and the coverage needed.

[mstinamotorcity]

15. With the increase

in demand of health care there will also be a need for more people to fill positions in the medical field. And all of them do not require a college degree. So not only will it be saving money it will also create jobs. That is a win,win if you ask me.

[kjackson227]

16. This is so true. If I'm not mistaken, I think President Obama...

was going to make available more scholarships, and/or tuition reimbursements if students go into the medical field and/or teaching.

[mstinamotorcity]

17. Well with that I can only say

President Obama