Health Insurance Refund - What to do

[Xan]

I just got a letter from my former health insurance company.  I switched about a month ago to a company that could give me a better deal, but I bear no ill will towards the company in question.

The letter says (paraphrasing) that ObamaCare requires that at least 80% of the premiums they take in must be spent on health care services, and that no more than 20% of premiums may be spent on "administrative costs such as salaries, sales, and advertising".  (I'm assuming it's just for PR reasons that they left off "profit".)

The letter included a check for about $50.  I was not expecting this check; as far as I was concerned, I had contracted with this company for a service for a certain amount of money, they performed that service, I paid, we terminated the agreement, and everybody's happy.

Let's put it this way: I certainly wouldn't like it if federal thugs decreed how much profit I could make in my business, and forced me to start giving the money that I had earned to my customers.  So I really don't want to cash this check and endorse this kind of action.

What should I do?  Just not cash it?  Hold my nose and cash it and have a night out on the town?  Call the company and tell them... something?  Something else?

[Greg]

I just got a letter from my former health insurance company.  I switched about a month ago to a company that could give me a better deal, but I bear no ill will towards the company in question.

The letter says (paraphrasing) that ObamaCare requires that at least 80% of the premiums they take in must be spent on health care services, and that no more than 20% of premiums may be spent on "administrative costs such as salaries, sales, and advertising".  (I'm assuming it's just for PR reasons that they left off "profit".)

The letter included a check for about $50.  I was not expecting this check; as far as I was concerned, I had contracted with this company for a service for a certain amount of money, they performed that service, I paid, we terminated the agreement, and everybody's happy.

Let's put it this way: I certainly wouldn't like it if federal thugs decreed how much profit I could make in my business, and forced me to start giving the money that I had earned to my customers.  So I really don't want to cash this check and endorse this kind of action.

What should I do?  Just not cash it?  Hold my nose and cash it and have a night out on the town?  Call the company and tell them... something?  Something else?

If you wanted to go the nice route, you could donate the money to a charity. Better yet, if you feel is it still the company's money, ask them where they would want to donate their money. If you agree with any of them, you can do that. You'll feel better about the situation and perhaps the company would send you a thank you note.

[dualstow]

I received a similar letter with a check for five times that amount.
I cashed it happily and will be spending the money on cheese.

[Greg]

I received a similar letter with a check for five times that amount.
I cashed it happily and will be spending the money on cheese.

http://www.hulu.com/watch/22972

Relevant. Homer eats 64 slices of American Cheese. You could do this with your money then dualstow.

[dualstow]

I received a similar letter with a check for five times that amount.
I cashed it happily and will be spending the money on cheese.

http://www.hulu.com/watch/22972

Relevant. Homer eats 64 slices of American Cheese. You could do this with your money then dualstow.

LOL. I'm no gourmand, but I live in a big city and my tastes are a little more refined than dear Homer's.
No, it's ewephoria (a gouda) and delice de bourgogne for me.  ;D

[Greg]

I received a similar letter with a check for five times that amount.
I cashed it happily and will be spending the money on cheese.

http://www.hulu.com/watch/22972

Relevant. Homer eats 64 slices of American Cheese. You could do this with your money then dualstow.

LOL. I'm no gourmand, but I live in a big city and my tastes are a little more refined than dear Homer's.
No, it's ewephoria (a gouda) and delice de bourgogne for me.  ;D

Well whatever you eat, hopefully you won't think you're blind afterwards like Homer.

[dualstow]

http://www.hulu.com/watch/22972

Relevant. Homer eats 64 slices of American Cheese. You could do this with your money then dualstow.
...

Well whatever you eat, hopefully you won't think you're blind afterwards like Homer.

:-D Finally paused Adblock and watched it. I think the excited noise Smithers makes when Burns bumps into him is funnier!

[Greg]

:-D Finally paused Adblock and watched it. I think the excited noise Smithers makes when Burns bumps into him is funnier!

Glad you liked it so much. I had to watch it again to hear Smither's excited noise. Hilarious.

Also, I believe (I'm using Chrome) that you don't have to disable or pause adblock to watch it. In the upper-left hand corner of the screen it shows a countdown time for when the "ad" will be over. There just happens to be no ad during those 30 seconds or so.

[dualstow]

Well, I got a warning that said, "If you want to watch this, you have to disable your adblock/pop-up blockers."
So I did so, and did so guiltily. ;-)

[TripleB]

Donate the money to the NRA. Obama will love that