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Checks In The Mail: Millions Expected To Receive Insurance Rebates Totaling $1.3 Billion

(Kaiser Health News) Millions of consumers and small businesses will receive an estimated $1.3 billion in rebates from their health plans this summer under a provision of the health care law that effectively limits what insurers can charge for administration and profits, a new study projects.
Almost one third of people who bought their own insurance last year will get rebates averaging $127, according to an analysis of state data by the nonpartisan Kaiser Family Foundation…
Under the federal law, insurers must spend at least 80 percent of premium revenues on medical costs or quality improvements; the remainder can go toward administrative costs, sales commissions and profits. If companies set premiums too high, rebates in the form of checks or discounts off future premiums are due consumers and businesses by Aug. 1.
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