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Expensive and routine care has been cancelled but people are still paying for health insurance.
by Engineer2Throw 6y ago
Expensive and routine care has been cancelled but people are still paying for health insurance.
- deleted 6y ago[deleted]
- deleted 6y ago[deleted]
- throwyes 6y agoYou’re 100% correct. I just received a check from my auto insurance due to covid and the decreased risk of accidents. Will I receive a check from my health insurance since I am unable to receive routine care? Why should I be paying for a service I cannot use? My wife’s grandfather was scheduled for bladder surgery. They canceled it indefinitely. We do not live in a big metropolis and our hospitals aren’t crowded (I drive by daily). He’s in the most pain he’s ever been in and all they want to do is up the pain killers. It’s completely fucked.
- rbultje 6y agoThe affordable care act specifies that 80% of premiums must be spent on medical expenses. If not, the consumer gets a rebate at the end of the year. See e.g. https://www.investopedia.com/terms/m/medical-cost-ratio.asp https://www.investopedia.com/terms/m/medical-cost-ratio.asp
- falcor84 6y agoInteresting, I never heard of this. Then isn't this just the smoking gun to explain why it seems health insurers in the US are apparently so cool with skyrocketing healthcare costs, which then increase the 20%?
- odysseus 6y agoNote that this rule doesn't apply to the very large employers that self-insure. Refer to: https://fas.org/sgp/crs/misc/R42735.pdf https://fas.org/sgp/crs/misc/R42735.pdf
- coverage1 6y agoThe calculation for ACA is based on a three year average of low MCR, so you wouldn't get rebate solely due to a year of decreased medical loss