And the politicians fight to give the carriers billions to keep the premiums low !!!!!
This literally blew my mind
There is a healthcare law called ‘The Medical Loss Ratio Rule’
This law says any money you pay in healthcare premiums, the insurance company must spent 80% on your healthcare
If they don’t, they’re supposed to refund you
Yes, this is real
Insurance companies found a loophole. They bought the doctors, the pharmacy benefits managers, the pharmacies and the clinics
Now, they skyrocket prices on everything from doctors visits, tests and prescriptions so that your 80% is spent
But it’s not really spent, they’re just paying themselves inflated prices so it actually doesn’t cost them anything. They just pocket all the money and never have to refund premiums
This provision is written in the Affordable Care Act, called the 80/20 rule
80% must be spent on care or refunded, 20% can be profit for the insurance company
We are being robbed blind