I hate to burst the GOP’s bubble (kidding, I don’t), but at least here on the west coast, Californians will get millions of dollars in credits on their health insurance premiums… thanks to “Obamacare” and– dun dun dun-n-n!– regulations! Per the L.A. Times, other insurers could follow:
Blue Shield of California says it will give customers in the state a $283-million credit on their insurance premiums, saying it is fulfilling a promise to return money to policyholders when its net income exceeds 2% of revenue. [...]
Under [President Obama's Affordable Care Act] regulations, insurers must spend at least 80% of consumer premiums on medical care and not reserve that income for administrative costs or profit.
That could mean rebates in the billions of dollars — which some say could hamper efforts by some congressional Republicans to repeal the measure.
Already, people are getting free vaccinations, cancer screenings, mammograms and colonoscopies. Adult children can remain on their parents’ insurance plans until age 26. And policyholders no longer have to contend with limits on the dollar value of their insurance policies.
Single payer is still the way to go, and the current health care plan clearly benefits Big Insurance, but it is an improvement, and Americans are seeing results. By 2014, there will be more evidence that it’s working, which of course, is why the GOP presidential candidates are screaming “Repeal! Repeal! Repeal!”