Yea in fact the ACA law caps insurers to a maximum of 15% profit. Anything extra must be rebated back to the customers.
The debatable part is the rebate is back to the employer who is allowed to simply pocket the money, though one could argue its returning the amount the employer is covering, often more than the employee. :shrug:
Believe or not, I get yearly notices from UHC about rebates for the prior year.
> Yea in fact the ACA law caps insurers to a maximum of 15% profit.
These are plan-by-plan, not on the company overall, and notably this doesn't apply to:
1) Self-funded plans. Name-brand insurance companies manage these, but big companies fund them and take on the risk (with re-insurance and all that good stuff in the mix, of course). A large proportion of the US population is on these kinds of plans, and that limit does not apply to them.
2) New plans in their first (IIRC) two years. I've not looked into whether insurance companies are playing games with this such that a larger set of their plans are "new" ones than would be if this rule didn't exist, but if it's at all possible for them to do that, I guarantee they are.
The debatable part is the rebate is back to the employer who is allowed to simply pocket the money, though one could argue its returning the amount the employer is covering, often more than the employee. :shrug:
Believe or not, I get yearly notices from UHC about rebates for the prior year.