Health and Science
Fri June 22, 2012
Health insurers to send rebates to some in Wisconsin
Health insurers will be sending rebates totaling $10 million to Wisconsin consumers and employers.
Federal requirements say that health insurers have to spend 80 percent of premium dollars on medical care. Anything less than that has to be returned to consumers. Nate Myszka is with the group Know Your Care, which has been trying to inform the public about the health reform. He says this provision, known as the medical loss ratio, helps ensure consumers are getting what they pay for, "Rather than advertising or CEO bonuses or lobbying or things like that. It makes the insurance company put the money where it's supposed to go, which is into people's care."
This provision is part of the Affordable Care Act; a ruling on the constitutionality of the law is expected from the U.S. Supreme Court in the next week. Myszka remains confident consumers will get their rebates: "We don't see any reason why this part of the law would be of legal issue. We'll just have to wait and see what the court has to say, I guess."
The rebates will average $76, for those eligible in Wisconsin. Nationwide, health insurance rebates total $1.1 billion. Consumers could get a check in the mail or a reduction in future premiums.