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Washington, Apr 27, 2012 -
Today Maryland Congressman Chris Van Hollen issued the following statement on a new report from the Kaiser Family Foundation, which found that 513,648 consumers in Maryland will receive up to $37,623,739 in rebates because of the medical loss ratio rule in the Affordable Care Act:
"Today's report is an important reminder that the Affordable Care Act has already started to change Americans' lives for the better. Thousands of Marylanders will get a rebate because the legislation works to ensure that insurance companies spend at least 80 percent of premium dollars on health care and quality improvements instead of other activities like advertising, executive bonuses, or overhead.
"This builds on the young adults who are already able to stay on their parents plan, the kids who now can't be denied care because of a preexisting condition, the seniors who now have access to free preventative services and cheaper prescription drugs, and the small businesses who have already started to receive tax credits for providing insurance. And this is only the beginning - over time, this historic reform legislation will bring down health care costs and expand coverage to millions of Americans."
Read this original document at: http://vanhollen.house.gov/News/DocumentSingle.aspx?DocumentID=292922