Close Close

Life Health > Life Insurance

Your Insurance Company May Owe You $127 (CNN Money)

Your article was successfully shared with the contacts you provided.

Insurers that failed to meet an early guideline of the health reform law are going to issue rebates averaging $127 to certain policyholders, according to estimates from the Kaiser Family Foundation. A provision in the health reform law requires health insurers to spend a percentage of premium payments toward patient care and quality improvement activities, including discounted gym memberships or wellness brochures. Under the law, large employer-sponsored plans must spend 85% of policyholders’ premiums this way, 80% for insurers that cover small businesses and individuals. Insurers that do not meet the requirements must issue a refund. Rebates will vary by state and those ensured through a private employer or a state or local government plan.