Health Care Reform Rebates For Health Insurance Costs Rolling In
When Laird Le found a check for $70.02 in the mail, he wasn't quite sure why. Turns out, he's one of the estimated 13 million Americans that will receive a rebate on their health insurance premiums as a result of the health care reform law recently upheld by the Supreme Court.
Look inside your mailbox: By the end of the month, you could be getting one of these refunds, which are are expected to total $1.1 billion this year. Health insurance companies have begun sending letters to customers informing them of a new rule requiring them to spend at least 80 percent of the premiums they receive on actual medical care, not on overhead, advertising, profits or other costs. Health insurers must cite the health care reform law, known as the Affordable Care Act, in the letter.
The authors of President Barack Obama's health care reform law aim to pressure health insurance companies to cut down on administrative costs and other expenses and to prevent them from raising premiums to maximize profits. The idea is to eliminate waste by health plans so they charge lower premiums in the future, said Blake Hutson, a health care advocate with Consumers Union in Austin, Texas.
The rebates, which the Kaiser Family Foundation projects will range from $1 to $517, can come in the form of checks, refunds to credit cards used to pay health insurance premiums, a discount on future premiums or payments to an employer providing health benefits.
http://www.huffingtonpost.com/2012/07/16/health-care-reform-rebate_n_1676964.html
Good news.
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Wear gloves when opening those checks. I have the feeling each and every one of them has been spit on by some CEO that isn't getting a $14mil bonus this year. 
