Health Insurances Giving Out Rebates

Health Insurances Giving Out Rebates
Photo by National Cancer Institute / Unsplash

Here's what you need to know.

The Affordable Care Act is having health insurance companies refund customers their premiums if their income exceeds a certain level. These payments will be handed out as rebates to make certain that the provider does not pocket the exceeding limit.

This year health insurance providers will give back 2.1 billion dollars to customers. This is partially due to the coronavirus pandemic and how people are not using insurance to cover costs.

The number given can be even higher since some insurance providers have not yet filed their annual rebate data. Many Americans will be getting amounts that go up hundreds of dollars due to the rebate.