Live Insurance News

California health insurance rebate checks to be mailed out next week

July 27, 2012April 30, 2013

Many policyholders in the state will be receiving money back due to the Affordable Care Act. President Obama’s overhaul of the medical care system will be providing many California health insurance policyholders with rebate checks, starting next week, as their insurers pay them back for failing to spend their earnings according to the new law’s requirements. Approximately 1.8 million people in the state will be receiving money back. These rebates will be either in the form of a reduction in their monthly premiums, or in the form of a check…

Ohio health insurance refunds will come to $11.3 million

July 22, 2012July 22, 2012 Nordstrom

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…

Insurance rebates coming to Massachusetts consumers

June 28, 2012April 30, 2013

Division of Insurance announces rebates for consumers and businesses Massachusetts insurance regulators have announced that many of the state’s citizens can expect to receive rebates on their insurance coverage. Insurance Commissioner Joseph Murphy notes that the rebates are coming from five of the state’s largest insurance companies. Insurance rebates will be issues to approximately 50,000 individual policyholders and another 50,000 businesses throughout the state. The insurance rebates total $56.8 million. Insurance rebates connected to 2010 law The Massachusetts Division of Insurance notes that the insurance rebates are $10 million higher…

Health insurance rebates come in at $1.1 billion for consumers this summer

June 22, 2012 S.Vagus

Rebates generated by medical loss ratio provision The Department of Health and Human Services (HHS) has announced that U.S. health insurance consumers are due to receive significant rebates in the coming months. The agency claims that millions of people throughout the country are eligible to receive $1.1 billion in health insurance rebates this year. The rebates are linked to the failure of several insurance companies who were unable to meet a federal standard imposed by the Affordable Care Act. The standard is often referred to as the medical loss ratio.…

California health insurance rebates to be sent out to small businesses

June 1, 2012April 30, 2013

UnitedHealth is expected to issue $3.5 million in these refunds California health insurance giant, UnitedHealth, is the first in the state to declare the total amount in rebates that it will be issuing to small businesses due to the fact that its spending on medical care costs did not reach the 80 percent requirement under the healthcare reform laws. There will be approximately $3.5 million split among almost 4,400 small business across the state. The rebates will be received throughout the summer as the insurer also gets itself ready to…

Report: Arizona consumers to receive health insurance rebates

May 29, 2012May 29, 2012 Marc

Affordable Care Act brings refunds to Arizona The future of the Affordable Care Act may be uncertain, but for now it is bringing some degree of financial benefit to consumers throughout the country. A new report from Consumers Union, a non-profit testing and information organization shows that Arizona insurance consumers can expect to see refunds this year, thanks to the health care law’s medical loss ratio (MLR) provision. According to this provision, health insurers are required to spend no less than 80% of the money they collect from premiums toward…

The health care reform timeline for rebates

May 23, 2012May 23, 2012 Julie Campbell

Estimates say that 2012 will see a total of $1.3 billion but that there is a wide variety among states. An analysis performed by the Kaiser Family Foundation has estimated that there will be rebates totaling $1.3 billion for consumers and businesses by the end of August this year. This money will come from insurance companies that spent more than the maximum allowed on non-care expenses. The Affordable Care Act states that only 20 percent of the income taken in from premiums can be spent on administrative and other costs…