Over 12 Million Consumers to Benefit from $1.1 Billion in Rebates from Health Reform Law
WASHINGTON, DC – Today, the Department of Health and Human Services (HHS) announced final refund amounts that health insurers must reimburse consumers for spending too much of premiums on overhead. Insurers across the nation will now rebate $1.1 billion to 12.8 million Americans with the average family receiving a $151 back from insurers as a result of the Affordable Care Act.
“This is exciting news for families struggling with rising health insurance costs” said DeAnn Friedholm, Director of health reform at Consumers Union, the policy and advocacy division of Consumer Reports. “Because of the health reform law, consumers now are actually getting money back from insurance companies who spent too much money on overhead.”
Consumers Union produced a map listing companies that anticipate owing rebates based on earlier estimates reported by insurers. Final rebate numbers by insurer may vary. The map and list of insurers is available at http://yourhealthsecurity.o