Health insurance refunds coming to 75,000 retired Illinois workers

Health Insurance Illinois

State workers to receive insurance refunds from the state due to ruling by the Illinois Supreme Court Approximately 75,000 retired Illinois workers may be receiving refunds on their health insurance coverage in February next year. The refunds are part of an ongoing legal battle that began centered on a law that was passed in 2012. The law required retired workers to cover the insurance costs with a portion of their pensions. A recent ruling from the Illinois Supreme Court requires insurance companies to return this money to policyholders. State law…

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Arizona residents are due refunds from their health insurance providers

Arizona Health Insurance industry

Consumers to receive $11 million in refunds in the coming months Many Arizona residents are due to receive refunds from health insurance companies in the coming months. In compliance with federal law, some of the state’s insurance companies are returning $11 million to consumers. According to the Department of Health and Human Services, the average refund a family will receive is $51. Some 350,000 consumers throughout the state are expected to see refunds in the near future coming from their insurance providers. Insurers are unable to comply with federal health…

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Insurance rebates are coming to customers in Delaware

Delaware health insurance

More than 5,500 health plan holders in the state can expect to receive their refund in some form. The latest from the health care reform will come in the form of insurance rebates that will apply to more than 5,500 people in Delaware, which means that they will each receive their portion of a total of $734,278. These refunds are required of five insurance companies in the state that failed to comply with a federal benchmark. The goal of that portion of the health care reform was to help to…

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Health insurance companies sending refunds to consumers throughout the US

Health Insurance Refund

Insurers are issuing refunds thanks to the provisions of the Affordable Care Act Millions in insurance premiums are being returned to consumers throughout the U.S., according to the Department of Health and Human Services. The federal agency has released data showing that several insurance companies have been unable to meet the medical loss ratio of the Affordable Care Act. This provision requires insurance companies to spend no less than 80% of the money they collect from premiums on improving medical care. If insurers cannot comply with this provision, they must…

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Health insurance rebates may be held by employers

health insurance for small businesses

The refund checks may not be seen by workers if their employers reinvest them into coverage. The Affordable Care Act has caused $1.1 billion in health insurance premiums to be refunded to policyholders, and though millions of individually insured individuals have received a check in the mail, workers are often finding that their employers are leading to a stall in the rebates process. This is leaving many employees wondering where the money is going. Workers did receive notification that they would be receiving a rebate, but that it would come…

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Health insurance rebates will help make coverage affordable

health insurance companies profits

The refund checks will help everyone to see lower premiums each year. More than $1 billion in health insurance rebates have been issued to consumers in order to allow insurers to comply with the regulations of the Affordable Care Act, and are now effectively making it less expensive for Americans to maintain coverage. This may also help to push premiums down in the future. According to the Center for Medicare Services acting director of the office of oversight, Teresa Miller, “Consumers who are not getting rebates are benefiting from the…

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Health care reforms get a boost in popularity from insurance rebates

Homeowners Insurance in Florida

The checks are being received and people are seeing the positive side of Obamacare. Now that some of the cost saving elements of the Affordable Care Act have been put into place and are being received by individuals, families, and small businesses, the popularity of the health care reforms is rapidly climbing. Many people are starting to feel that insurers are now being forced into fairness. The reason is that part of the health care reforms require insurance companies to spend 80 percent of the money they collect in premiums…

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Ohio health insurance refunds will come to $11.3 million

Homeowners Insurance in Florida

The rebates will be sent out to families in checks averaging $139 per family. This summer the Ohio health insurance rebates will be sending over 81,000 families throughout the state a total of $11.3 million. These refunds are a part of a nationwide repayment of $1.1 billion. On average, the rebate checks that will be received will be $139 for individuals and families with Ohio health insurance. However, some of the 81,500 families who will be receiving the payments will receive much more than that. In fact, the larger payments…

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New ruling on health care reform rebates for insurance coverage

Michigan health insurance

Medical insurers must now inform policyholders that their checks are from the Obama administration’s changes. New federal guidelines have just been released, informing insurance companies that they must inform their policyholders that health care rebates that they are receiving are the result of the laws put into place by the Obama administration following the overhaul of the system. This is the most recent step being taken by the President to highlight the benefits of the law ahead of the election this fall. This move is being made despite the fact…

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Kaiser Foundation report predicts health insurance rebates for U.S. workers

Health Insurance refund

Rebates spurred by Affordable Care Act The Kaiser Family Foundation has released a new report that shows U.S. consumers can expect to see large rebates from health insurance companies. These rebates come courtesy of the federal Affordable Care Act. One of the law’s provisions, known as medical loss ratio, requires insurers to pay no less than 80% of the money they collect from premiums on improving medical care. If companies cannot meet this standard, they must return this money to policyholders. The Kaiser report notes that those receiving health insurance…

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