September 18, 2014

Health insurance rebates top $10.4 million

Nearly 283,000 Wisconsin residents stand to benefit from health insurance rebates that are required under federal health care reforms. The Department of Health and Human Services says nearly $10.4 million dollars in rebates will be issued to Wisconsinites by insurance companies this summer, as part of the 80-20 requirement under the Affordable Care Act.

The rule requires companies to spend at least 80-percent of premium dollars on medical care and quality improvements, or to refund the difference.

Rebates will average $76 for the 137,000 Wisconsin families covered by a policy. They will be seen through either a check in the mail, a reimbursement to the account used to pay premiums, a reduction in future premiums, or through an employer providing coverage.

Rebates must be issued no later than August First.