Thanks to ObamaCare, 12.8 millions of Americans will receive a rebate check in the mail this summer. The check is because of a provision in President Obama’s Health Care Law called the 80/20 rule. It requires insurance providers to spend 80% of premiums on providing health care to policy holders with the remaining 20% going to administrative costs. Any remaining balance must be returned to consumers instead of going to CEO’s bonus checks.
The total rebate of $1.1 billion is scheduled to go out this summer. An average of $151 will be sent to qualifying policy holders with other Americans receiving up to $800 checks depending on the type of policy, the state they live in and other factors. According to HealthCare.gov, Americans will be rewarded in one of the following ways;
- a rebate check in the mail
- a lump-sum reimbursement to the same account that was used to pay the premium if it was paid by credit card or debit card
- a direct reduction in their future premiums
- their employer providing one of the above rebate methods, or applying the rebate in a manner that benefits its employees.
ObamaCare, also called The Affordable Health Care Law is presently being debated in The Supreme Court. A Congressional Republican push to paint the law as unconstitutional will be decided by the Supreme Court in a few more days. If the Republicans succeed and the Court determines the law violates the Constitution, insurance companies may chose to pay their CEO’s with the rebate checks instead, just like they did before the law went into effect.
Just another example of Congressional Republicans, working for Corporations instead of the American people.