More than 6.8 million Americans will get a refund from their health insurer this summer.
Total value of the rebates will be $332 million, with an average of $80 going to each family. They’ll be issued by August 1.
Thank the Affordable Care Act for the windfall. Under one of the law’s provisions, insurers must issue refunds if they spend more than 20% of what customers pay in premiums on administration and marketing expenses, instead of medical care.
Yeah, I got my $36 check with a letter mandated by law to remind me that Obama’s got my back.
Strangely, the letter from my insurer that said my health insurance was going up $200 a month did not mention the ACA.
I’m sure that’s an oversight.