Florida health insurance companies giving $124M in rebates to 1.3 million Floridians
Posted: 06/22/2012
Money is on its way to 1.3 million Floridians who are getting their piece of a $124 million health insurance rebate, according to the Department of Health and Human Services.
Recipients will receive their rebates in the form of a check or a credit with the company, averaging $168 per person, the Orlando Sentinel reports.
The rebate comes as a result of the health care overhaul that was enforced in 2011.
Customers are getting money back because the health-care rules require insurance companies to spend at least 80 percent of their premium dollars on patients, and no more than 20 percent on overhead, such as salaries and advertising.
The companies that aren’t spending enough on patients are forced to refund the difference.
Health insurance providers across the nation collectively owe $1.1 billion in rebates to 12.8 million Americans. The rebates must be sent by August 1.
To see what plans owe customers, visit http://wfts.tv/NhrS9K
Read the Orlando Sentinel story here: http://bit.ly/L9qCnI
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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