Health insurers are NOT refunding $743 BILLION under the ACA. It’s Million, not Billion.

Health insurers are NOT refunding $743 BILLION under the ACA. It’s Million, not Billion.

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A fake news story.

According to the Kaiser Family Foundation study, upon which this story is based, the value is $743 MILLION in the individual market, $250 MILLION in the small group (business) market, and $284 MILLION in the large group (business) market. Here is the KFF chart showing the refund amounts – KFF used the Roman numeral M to represent 1000 which is confusing to some – however the study text clearly spells out the MILLION amount:

The reporter’s entire store is off by a factor of 1000. I then saw social media twats proclaiming that 3/4 of a trillion dollars are being refunded …

Mark Twain is alleged to have said that if you do not read the newspaper, you are uninformed; if you read the newspaper you are misinformed. Absolutely nothing has changed in over a century.

 

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