Politics & Government
Health Insurers Will Pay $11 Million in Rebates in Georgia
Insurance companies that fail to allocate 80 to 85 percent of premium payments to health care improvements must pay out rebates.
As part of the Affordable Care Act, some health insurers which operate in Georgia will be paying out $11 million in rebates to 304,000 people and businesses this summer.
Georgia Health News reports that the rebates are a requirement of the Medical Loss Ratio (MLR) rule; the requirement stipulates that health insurance companies must reinvest 80 to 85 percent of their clients' premium payments into health care improvements. Companies that fail to meet this standard must provide rebates.
$5.5 million of rebates will be paid out to 180,000 individual Georgians, while $5.4 million will be distributed to small-scale employers. An additional $270,000 will be paid to large-scale employers.
Humana is paying out $4.5 million in total rebates in Georgia, while Blue Cross Blue Shield of Georgia is on the hook for $1.9 million. Individual insurers Time Insurance Company and Golden Rule must pay $1.5 million and $1.4 million, respectively.
The average rebate for a Georgia family will be $53.
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