More than 140,000 Ohioans will receive rebates from insurance companies this summer for a total $11.3 million, said the U.S. Centers for Medicare and Medicaid Services.
On Thursday, government health officials said eligible residents could receive rebates in the form of a check, a reimbursement to the same debit or credit account used to pay the insurance premium, a reduction in future premiums, or employers could apply the rebate in a way to benefit employees.
The rebate will average $139 per Ohio policy holder, according to Centers for Medicare and Medicaid Services.
Rebates will benefit individuals who buy insurance on their own, through a small business or from their large employer, said Brian Cook, a spokesman for CMS. It does not apply to people with Medicare or Medicaid. People also won’t receive a rebate if their insurance company met the standard, Cook said.
This comes from a provision of federal health care reform that requires insurance companies to spend at least 80 percent of consumers’ premium dollars on medical care and quality improvement. Companies that don’t meet the standard are required to provide their customers rebates no later than Aug. 1, according to the federal government office.
“These companies that did not meet the standard now must provide rebates to Ohioans this summer,” Cook said.
The U.S. Supreme Court is expected to rule soon on the health care law.
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