Live Insurance News

Health insurance refunds coming to 75,000 retired Illinois workers

November 25, 2014November 22, 2014 Logan B.

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…

Arizona residents are due refunds from their health insurance providers

August 14, 2014August 12, 2014 Marc

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…

Insurance rebates are coming to customers in Delaware

July 30, 2014July 28, 2014 G. Turner

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…

Health insurance companies sending refunds to consumers throughout the US

July 29, 2014July 26, 2014 Marc

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…

Health insurance rebates may be held by employers

August 13, 2012April 30, 2013

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…