INN Blog

More Posts
 

Health insurers owe consumers $1.6 million on 2013 premiums

By The Idaho Statesman
McClatchy-Tribune Information Services

July 24--Health insurance companies will refund Idaho consumers almost $1.6 million on their 2013 premiums, according to the U.S. Department of Health and Human Services.

The refunds are required under the Affordable Care Act, which says insurers must keep no more than 20 percent of premium dollars and spend 80 percent on medical benefits.

The agency said about 31,600 consumers in Idaho would benefit from the refunds, which will be issued this summer through employers or in the form of checks, lump-sum refunds to credit or debit cards, or reductions in future premiums. Small-group plans -- generally for small employers -- claimed an overwhelming share of the Idaho premium refunds, about $1.3 million total. According to the federal agency, those employers will use refunds to "improve their health coverage."

The insurers that owe refunds in Idaho are:

--John Alden Life Insurance Co. owes $21,900 to small-group customers.

--Mid-West National Life Insurance Co. of Tennessee owes $195,525 to individual customers.

--Regence BlueShield of Idaho owes $1.3 million to small-group customers.

--The MEGA Life and Health Insurance Co. owes $39,279 to individual customers.

--Time Insurance Co. owes $22,154 to small-group customers.

Audrey Dutton: 377-6448, @IDS_Audrey

___

(c)2014 The Idaho Statesman (Boise, Idaho)

Visit The Idaho Statesman (Boise, Idaho) at www.idahostatesman.com

Distributed by MCT Information Services

Wordcount:

Generate more leads quickly and affordably.

213



USER COMMENTS:


  More Newswires

More Newswires >>
  Most Popular Newswires

More Popular Newswires >>
Hot Off the Wires  Hot off the Wires

More Hot News >>

insider icon Denotes premium content. Learn more about becoming an Insider here.