Obamacrap Requires Notification of Not Rebating

[GreenSky]

This just amazes me. So HHS requires insurance companies who do not rebate to spend money telling employers not to expect a $243 (approx) check.

This is from Anthem:
We are sending notices to employers and subscribers who will not receive medical loss ratio rebates

August 7, 2012
On August 20, 2012, we will start sending the HHS-required notification to employers and subscribers who will not be getting a rebate. In short, the notice explains that they will not be getting a rebate because we met or exceeded the required medical loss ratio for 2011. This notice is being sent to comply with the Affordable Care Act (or health care reform law) and uses the required language from the Department of Health and Human Services

 

[VolAgent]

Now, if insurance companies were smart, they'd start bragging about the size of the rebate.

"We sent out a larger rebate than our next three competitors combined. Buy our insurance and you'll be getting money back!"

After all, the IRS has done it for years.

 

[Yagents]

Where have you been?? This has been ridiculed as gov't (liberal) propaganda just before the elections. They set this up to either buy votes, or show "they've got your back", so vote for me.

 

[somarco]

Thanks for the heads up Rick.


InsureBlog: A Letter About Nothing

 

[Norwayguy]

Great....So does the cost of these mailing qualify for or against the MLR?

 

[somarco]

does the cost of these mailing qualify for or against the MLR?

natcherally . . . . . . . . .

 

[Yagents]

Great....So does the cost of these mailing qualify for or against the MLR?

Under the 20% portion. Just spoke with carrier rep, we best hope that companies don't run up their MLR to 83% or so, otherwise we are the first in line with commission cuts. Shareholders come first.

 

[AllenChicago]

Another straw on the camel's back that takes companies closer to the MLR limit is the September 2012 requirement that all companies furnish NEW AND EXISTING insureds with a standardized outline of benefits, complete with a detailed glossary and pretty diagrams.

Ref: 2012 Timeline at: Implementation Timeline - Kaiser Health Reform

-AC

 

[moonlightandmargaritas]

Just spoke with carrier rep...

Surely a trusted, credible and objective source. They would NEVER lie to you?

Shareholders come first.

I sure as hell hope so, since they're the ones that have risked their capital.

 

[Yagents]

Surely a trusted, credible and objective source. They would NEVER lie to you?
I sure as hell hope so, since they're the ones that have risked their capital.

Why would they lie when they are telling me bluntly that our commissions are still at risk. A lie would be coddling me.

I'm a capitalist, we're on the same page there.