Report: $40 Million in Rebates Could Be on the Way to Virginians
Tuesday, May 1st, 2012
By Monique Coppola, Public News Service-VA
The check could be in the mail by August 1 for some individuals and businesses in Virginia. According to an analysis by the Kaiser Family Foundation, 17 health-insurance plans collected about $40 million more than they should have, and will now have to pay it back to consumers under the new health-care reform law (ACA).
Jill Hanken, staff attorney with the Virginia Poverty Law Center, says the rebate is unprecedented.
“The Affordable Care Act requires health-insurance plans to pay a certain amount of every premium dollar collected towards actual health-care services. This is called the medical loss ratio.”
Published May 1, 2012