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US Health insurance rebates may reach record levels in 2019

September 6, 2019September 8, 2019 Logan B.

Health insurance rebates - us dollar - pills

A new report has indicated that the Affordable Care Act refunds could hit $1.4 billion this year. The provision of the Affordable Care Act (Obamacare) which provides millions of Americans with health insurance rebates is expected to reach a record high level this year. Health insurance customers may be receiving more in refunds this year than ever before. In 2012, a component of the Affordable Care Act went into effect which required insurers to pay their customers a medical loss ratio (MLR) payment every fall under certain circumstances. If those…

Massachusetts insurance refunds will total $15 million

July 31, 2014July 31, 2014 H. Cutner

Consumers in the state will be issued the rebates in some form by August 1 by their insurers. According to the latest data from the U.S. Department of Health and Human Services, Massachusetts insurance customers who purchased or renewed their health plans in 2013 were able to save $4.1 billion on their premiums, that year. This year, the health care reform will bring over $15 million in refunds to those same consumers. The Massachusetts insurance rebates will be the second largest among all of the states in the country. The…

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 care reform regulations will send rebates to consumers in the Carolinas

July 28, 2014July 26, 2014 G. Turner

This year’s average refund will come to $92 per family as a result of the Affordable Care Act. The announcement has now been made that over $21 million in rebates from the health care reform will now be sent out to residents of the Carolinas, as insurance companies refund customers after having spent too many of their premium dollars on red tape and profits, as opposed to paying for actual claims, last year. This figure for the states was recently released by the U.S. Department of Health and Human services.…

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…

Minnesota health insurance companies issue $8.9 million in rebates

August 8, 2012August 7, 2012 S.Vagus

Consumers to receive $8.9 million in rebates this summer Minnesota health insurance consumers are expected to receive some $8.9 million in rebates this summer, according to state officials. Senator Al Franken held a press conference on August 6 to provide information on the rebates and why they were significantly lower than what Minnesota health insurance companies had anticipated. Earlier this year, insurers predicted that consumers would receive some $14.6 million in rebates due to the medical loss ratio provision of the Affordable Care Act. Minnesota health insurance companies may have…

Health care reforms get a boost in popularity from insurance rebates

August 3, 2012August 3, 2012 Julie Campbell

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…