Thursday, July 25, 2013

Exchanges offer cash back bonus!

Exchanges in DC just got a little more attractive, around 2-3% or a free trip to your sunny local of choice that is.

"The exchange managers would consider taking SHOP premiums via credit card and debit card in 2015, if interest in that option appears strong."

If you had the option to pay your insurance premiums with credit card and receive cash back or points to use, what smart business owner wouldn't jump all over that? It is sort of ironic with government's push to squeeze every penny possible out of administrative cost  they willingly add 2-3% in administrative costs for payment convenience.

Spending money on brokers or customer service reps, not acceptable; spending more than that on credit card problem. On an average family premium of $700 the credit card fees are roughly $20. The cost of an ACH around $0.10.
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