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Fact Based List:
4 Facts about Insurance Company Refunds Resulting from the ACA
Submitted By jryan@mcol.com, Created 07/23/2013 - 10:09
- Under the Affordable Care Act, insurance companies are required to spend 80-85% of premium dollars on medical care & health care quality improvement, rather than on administrative costs or CEO bonuses
- In 2012 8.5 million consumers received half a billion dollars in refunds – with the average consumer receiving a refund of around $100 per family
- In 2012, 77.8 million consumers saved $3.4 billion up front on their premiums as insurance companies operated more efficiently as compared to 2011
- In 2012, 13 million rebates went out, in all 50 states
Source: The White House
Source URL: http://www.whitehouse.gov/the-press-office/2013/07/17/fact-s...