Knock Knock!! Did you feel the pinch when you first enrolled in health insurance in 2014? Were you the one who said I have to get health insurance so I won’t be penalized. Then when you applied for health insurance, you got the sticker shock of what the premium was, yet you moved forward and struggled to pay it for the first year anyway!! Guess what, you were not alone. I kept hearing from people over and over again, they didn’t want to just GIVE money to the government.
What if I told you, you were overcharged? I remember last year as I was doing my studies on Obamacare and how it effected people in Colorado, I discovered people who got health insurance the first year through the healthcare exchange were charged 20% more than people who bought their insurance through a private insurance broker. When asked why there was this difference? No one could answer.
I ask you, how did this benefit the consumer? I’ll wait.
Imagine my disbelief when I discovered this article titled “Health Insurers in Arkansas OWED more than $7.1M in rebates for 2014!! Hold on a minute! We are not talking about pennies. We are talking about MILLIONS. This article states the health insurers collected TOO much in premiums than what they spent on medical care.
If there are only three companies that offered plans on the Arkansas health insurance exchange, how did only one company end up being the one that owed? I continued reading and there were other companies that owed money; however they apparently were independent from the health insurance exchange. Remember companies could apply to be a part of the exchange but did not have to apply.
Check out the article – Health Insurers in Arkansas owed More than $7.1M in rebates for 2014.
Have you chosen your health insurance for 2016? I wonder if the price is higher than it should be at this time of writing? Did you carry insurance for 2015? Did the price go up from 2014? If you are evaluating the prices now, did it go up from 2015?
Weigh in and share with us if you got a rebate!! Leave your comments on this page.