The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
WASHINGTON, July 11 -- The Consumers Union issued the following news release:
As the U.S. House of Representatives prepares to vote today on an effort to repeal the Affordable Care Act, Consumers Union, the policy and advocacy division of Consumer Reports, is delivering nearly 50,000 voided checks to House offices from constituents calling on their representatives to protect new rules that hold insurance companies accountable for how they spend premiums.
"Consumers are getting $1.1 billion back this summer from insurance companies who spent too much on bureaucracy and not enough on actual health care," said DeAnn Friedholm, Director of Health Reform at Consumers Union. "Our supporters want Congress to know that a vote for repeal is a vote to void refund checks being sent out across the country."
To help consumers find out about refunds available to them, Consumers Union produced a map of rebate totals and insurers who are paying back customers, available at YourHealthSecurity.org/health-insurance-refund-map.
In addition, the consumer group sent a letter to the House of Representatives urging lawmakers to put politics aside and reject -- once and for all -- the measure to repeal the health reform law. The letter points to recent polling showing that a majority of Americans want Congress to put aside fights over the health reform law.
Friedholm said, "There are much more important things at stake here than political showmanship. With the Supreme Court decision behind us, it is time to move forward on making all of these health benefits a reality."
Along with insurer refunds, a repeal would mean the loss of new protections already in effect including banning lifetime benefit limits, stopping discrimination against sick kids, and prohibiting insurers from canceling your coverage after being diagnosed with a major illness.
"Consumers Union is open to working with policymakers to make constructive improvements to the law as it continues to be implemented. But in the meantime, we urge Congress to reject this misguided attempt to repeal the Affordable Care Act," said Friedholm.
TNS gv51gv 120712-3948903 61GemaViana