I just got a check from my insurance company for $261 rebate on my insurance premiums. Apparently, this is part of the PPACA, that I get money back if the insurance company does not pay out 80% of its premiums as benefits.
This check, stamped COURTESY OBAMACARE by statute, no doubt, came just days after I received a letter from my insurer that my premiums are going up $1200 a year, or $300 a quarter. Also COURTESY OBAMACARE, no doubt.
So this month, I will write out that insurance check, and the government’s check to me personally will not actually fully cover the increase in the premiums. Where have I seen this before?
However, as a self-employed small business owner, I am not the target of this gambit. The real target of this largesse is someone whose health insurance costs just disappear from the weekly or bimonthly paycheck, but to whom this check might appear, courtesy the Democrats in the Federal government. Their insurance costs will go up, too, assuming their employers keep them on it, but the gravy has a .gov return address.
I hope they’re not fooled.
UPDATE: The St. Louis Post-Dispatch covers the story, along with this quote from a believer and recipient:
“I imagine there will be a bunch of people who change their minds about Obamacare when they get their checks,” Fox said. “I think it will make them feel better that their insurance companies are being held accountable for gouging.”
He is the target audience. Kudos to the St. Louis newspaper for making sure he got to laud appropriately in paragraphs 3 and 4 and to get a critic of the move, an industry spokesman, to criticize it only in the final paragraph.
The article clarifies that I was mistaken in who gets the refund. Mostly people who buy directly from insurance companies, like me and Fox.