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catastrophic insurance is going away, and I'll be going without insurance. I guess you'll call that a win but I'd rather be insured..
And thats dumb. Your $150k in savings could disappear in the blink of an eye should you have a serious problem. I know that from personal experience. Best to sign up for something as I did.
No that isn't true. Some insurance companies in Cal re-bid when they found out what their competitors were offering.
The federal governmetn sets the UCR and ICD9/10 reinbursement rates. The fact that they rebid doesnt mean their costs go down.. It just means their rebating less money than they would have at the end of the year.
And thats dumb. Your $150k in savings could disappear in the blink of an eye should you have a serious problem. I know that from personal experience. Best to sign up for something as I did.
Do you even know how insurance companies make money? Hint, its not from charging people premiums and making money from what they dont pay out.. Its from INVESTING those premiums. Thats why Buffet bought Geico for example. Made him a multi billionaire
That $150K in "savings" is actually real estate that appreciate, and its not $150K, its $1.5M because their invested at a 10 cap rate..
You rush off to sign up for something, no thank you..
Do you even know how insurance companies make money? Hint, its not from charging people premiums and making money from what they dont pay out.. Its from INVESTING those premiums. Thats why Buffet bought Geico for example. Made him a multi billionaire
That $150K in "savings" is actually real estate that appreciate, and its not $150K, its $1.5M because their invested at a 10 cap rate..
You rush off to sign up for something, no thank you..
I understand quite well how it works. Took a few actuary exams way back when (not an actuary though).
Anyway, nothing to me. If for you only though you'd likely get insurance on yourself quite cheap on the exchange. Whatever your degree of risk is.
Yep, Obama voter.. thinks putting $100 in the bank after paying $1975 in new fees, is smart.. haha...
I'm totally lost. I'm not familiar with this at all. Who is getting rebates and what happens to me if I cash it? Also, what is this $1975 in fees you are talking about?
I don't want to cash anything if it is gonna come back and hunt me...
Please explain for me so I understand.
Our insurance went up a lot and I have not seen any check.
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Last edited by glass_of_merlot; 07-20-2013 at 11:30 PM..
I understand quite well how it works. Took a few actuary exams way back when (not an actuary though).
Anyway, nothing to me. If for you only though you'd likely get insurance on yourself quite cheap on the exchange. Whatever your degree of risk is.
As I said, i wont be getting insurance. The fact that there is an "exchange", which is basicly the government, contracting out services to yet another insurance company, will do little to nothing to drop the cost of care. Obamacare doesnt address ONE issue with why prices are so high, hint, its not due to a lack of competition, so I can see little reason why adding yet another insurance company into the mix of thousands of them, will do anything.
I'm totally lost. I'm not familiar with this at all. Who is getting rebates and what happens to me if I cash it? Also, what is this $1975 in fees you are talking about?
I don't want to cash anything if it is gonna come back and hunt me...
Please explain for me so I understand.
Our insurance went up a lot and I have not seen any check.
Sent from my DROID4 using Tapatalk 4 Beta
The cost of insurance has risen on average $1975 since Obamacare has been put into law. When an insurance company doesnt spend 80% of their revenues on treatment, they are required to reinburse some of this excesss back to the consumers.
If you're getting a rebate check, its simply because they overcharged you all year.. Some people here are celebrating their $100 rebate, (on average), while ignoring their cost went up almost $2,000.
Actually, I did receive a check with a letter stating this was conforming with the new law or whatever. Sorry, i didn't really read it all, I was just glad to get the money
Quote:
Originally Posted by natalie469
I'm not celebrating at all. I don't need it. Why are you so mad that I got one.
The Healthcare exchanges introduce competition in the market--the big companies are going to have to cut the fat to compete with the lower cost programs, and it provides a venue where it's easier for consumers to see a side by side comparison of each company, so consumers can make more informed choices.
Wow!
That's worth approximately nothing.
Give me a week and I'll make a freaking web site that does the same exact thing.
I'd say that's offset by this ridiculous 80/20 nonsense. Hey guys, you can have health "insurance", but we're going to basically destroy the concept of insurance by requiring a certain payout every year.
How the hell am I supposed to get catastrophic coverage with a rule like that?
This all stems from the fact that your average person is such a brain dead moron that they don't realize what "insurance" actually is and look at these plans as if it somehow benefits them to pay a company to give them 80% of their money back.
However, you yourself have a personal motive in this in that your $100k high deduct health insurance policy that you have will likely go away and your little pet loop-hole goes with it.
What pet loop hole is this exactly? The ability to acquire catastrophic coverage?
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