7 On Your Side
Individual health insurance holders could get rebate
People who bought their own individual health insurance could be in for a nice rebate.
The Wall Street Journal reports rebates from health insurance companies to both individuals and employers could top $1 billion.
A provision in the federal overhaul of our health laws requires insurance companies to spend a minimum amount of premium dollars on health care. If they fail to do that, refunds must be issued.
The non-partisan Kaiser Family Foundation estimates the rebate will be $426 million to individuals with another $900 million going to large employers and small businesses.
A similar analysis by Goldman Sachs puts the payout at $1.2 billion. Insurance companies must declare this June how much the rebates will be.
health insurance, 7 on your side, michael finney
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