I Guess We Are the 1%

This afternoon’s mail brought a letter from UnitedHealthcare, my insurance company from a previous job.

“They never write you to say they’re giving you back money,” said Susie.


The Affordable (sic) Care Act requires UnitedHealthcare Insurance Company to rebate part of the premiums it received if it does not spend at least 80 percent of the premiums [it] receives on health care services…

In 2011, UnitedHealthcare Insurance Company spent only 79% of a total of $58,159,006,54 in premium dollars on health care and activities to improve health care quality. Since it missed the 80 percent target by 1% of premium is receives, [it] must rebate 1% of the total health insurance premiums paid by the employer and employees in your group health plan.

I’m always happy to get money back, and getting money back from an insurance company is particularly delicious.  But you know, it’s a little like finding out you won that game with Florida State three years ago because they committed a recruiting violation.

In all seriousness, what business is it of the government’s what G&A margin a private company has.  For some reason, 20% is exactly right, but forcing 0% borrowing on these clowns is a violation of every holy democratic republican principle since the Romans.

Of course, we’ll take the money, though.

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