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Fri June 22, 2012
Thousands to get insurance rebates in Michigan
DETROIT, MI (AP)-- The federal government says 114,000 Michigan residents will get rebates from insurance companies under the Obama Administration's Affordable Care Act.
Health and Human Services Secretary Kathleen Sebelius said Thursday the $13.9 million in rebates means about 65,000 families will get an average of $214 this summer.
Under the law, insurance companies generally are required to spend at least 80 percent of premiums on medical care and quality improvement. Insurers not meeting that standard have to return the cost difference by August 1. Michigan residents due rebates will get a check in the mail, credit or debit card reimbursement, or reduced future premiums.
Health and Human Services says the Affordable Care Act's 80/20 rule prompted some insurers to lower prices or improve coverage to meet the standard.