BRIEF: Insurance refunds to come in for Mo., Ill.
By Tara Kulash, St. Louis Post-Dispatch | |
McClatchy-Tribune Information Services |
A provision under the Affordable Care Act requires insurers to refund their customers if they don't spend at least 80 percent of premium dollars on medical care or "activities to improve health care quality" in the individual and small group markets. For the large group market, they must spend at least 85 percent.
In
On average, a
Nationally, insurers will give back more than
Now that the companies are pressured to spend more wisely, HHS estimates consumers saved
Consumers will receive their refunds in several ways, including via checks, reimbursements and discounts.
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