I'm Rich........thank You MLR

[Yagents]

YOOHOO,

I just received my personal Goldenrule MLR refund check of $74 this year (which represents 78.7% MLR) on my grandfathered 10k family of 4 HSA that I pay $577/mo for. I can't believe they over charged me $6/mo......bastards

I'm gonna write my local politician and thank them for turning the entire market upside down for my perceived benefit.

Beers on me!!

 

[Josh]

I doubt there is any way to figure this out easily, but in exchange for that savings, how much does the average income tax payer pay in extra taxes to subsidize the other plans?

 

[houcoogster]

Just think how rich you would be if they overcharged you $20 a month. Your picture would be in the paper holding the check!

 

[toddoxley]

Just think how rich you would be if they overcharged you $20 a month. Your picture would be in the paper holding the check!

To the Kool-Aid drinkers I am sure that the MLR refund check is just another shining example of how the Obama administration via ACA has teamed up with all Americans to keep those nasty , greedy insurance companies in line.

However, what has really happened is that the Obama administration via ACA has joined the Insurance industry in screwing all Americans. Yes, the insurance industry must take all individuals regardless of health conditions... But they also have raised the individual rates by as much as 100% or more and the insurance industry gets to count on a share of there revenue to come from the Bank of China and lastly the insurance industry knows that if they have too many loses they will be bailed out.

MLR is a gimmick to make us believe that Obama cares about the individual when in fact he is working with the insurance industry against us.

 

[RayNY]

MLR returns, on average, about 6 ten thousandths of collected premium (0.055%, specifically). Yes, that means for every $10,000 spent (average premium is a bit below $9,000 FYI) about $5.50 are returned. To put that in perspective, it's about the rounding error you overpay for sales tax on a $100 purchase.

My claims are based on 2012 figures reported by CMS: http://www.cms.gov/CCIIO/Resources/Data-Resources/Downloads/2012-mlr-rebates-by-state-and-market.pdf is the MLR chart ($504M total refunds), http://www.cms.gov/Research-Statist...onalHealthExpendData/downloads/highlights.pdf has the total expenditure, $917B on private health insurance. 2012 is the most recent I had both data sets on.)

 

[cadylou]

I'm sure it costs more to administer this, track it and then have the systems at the insurance companies to comply & process "rebates" . . . .Very expensive way to "keep everyone honest". Ridiculous . . . .

 

[RayNY]

cadylou,

Don't forget, if you want to increase Admin money (aka, executive pay), all you have to do is pay the providers more. They don't complain about getting more, DoI gives rate increases to maintain MLR based on experience, expenses haven't changed, so it's just more profit.

There's more than meets the eye.