Health Insurance Rebates In Ohio To Total $11.3M | NBC 4i

By: Associated Press | NBC 4i
Published: July 21, 2012 Updated: July 21, 2012 - 3:55 PM

CLEVELAND --

A newspaper reports that more than 81,000 Ohio families will get health insurance rebates this summer totaling $11.3 million across the state.

The Plain Dealer in Cleveland reports the average refund will be $139, but some of the 81,500 Ohio families will receive hundreds of dollars more.

The rebates are part of the $1.1 billion that federal officials say insurers nationwide must return to nearly 12.8 million Americans this year under the Affordable Care Act.

The act requires insurance companies to spend 80 or 85 percent of premiums collected on medical care or care improvements. The remaining 15 or 20 percent can be spent on salaries, advertising and other administrative expenses or kept as profit. Anything over that must be returned to customers.

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Source: http://www2.nbc4i.com/news/2012/jul/21/health-insurance-rebates-ohio-total-113m-ar-1111233/

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