Another side benefit from the Affordable Care Act

[Playinghardball]

Steve Benen: Quite a few Americans are going to go to their mailbox this week and next, open it, and find something unexpected: a check from their insurance company. It’s another side benefit from the Affordable Care Act that most Americans mistakenly thinks they don’t like:

When Laird Le found a check for $70.02 in the mail, he wasn’t quite sure why. Turns out, he’s one of the estimated 13 million Americans that will receive a rebate on their health insurance premiums as a result of the health care reform law recently upheld by the Supreme Court…..

…. “Obamacare” has an 80/20 rule, which requires insurance companies to spend roughly 80% of all premiums on actual health benefits, rather than company overhead (marketing, lobbying, executive salaries, etc.). When an insurer spends less than 80% on health care for its customers, the company is required to send the customer a check for the difference.

How many checks are we talking about? According to the Kaiser Family Foundation, nearly 16 million Americans will get rebates before the legal due date, which is Aug. 1…. when they realize it’s because of Obamacare, maybe the law will start to look a little better in those consumers’ eyes….

Found on the Obama Diary: http://theobamadiary.com/

[leveymg]

1. Compared to a $5,000/yr rise in private premiums for BC/BS, $70 is laughable.

From $9,000 to $14,400 for a family of 3. There's no cost-containment in the ACA for people with incomes 4 times the poverty rate or greater.

ACA isn't such a great deal for middle-class people with private coverage who've seen their rates skyrocket.

[kctim]

2. +1000