Is Your ACA Health Insurance Rebate in the Mail?

Financial IQ

Recently I got an envelope from my new health insurance company containing a check made out to me for $460. A few days earlier, I’d gotten a check from my old health insurance company for $60. What’s going on?

The answer is that I’m one of about 13 million Americans getting rebates totaling approximately $1.3 billion from their health insurance companies. Some people will get credits against future premiums, while others will receive checks in the form of the rebates. If you paid your bill with a debit or credit card, you may get a credit to your account.

The rebate checks and credits can be as large as $600 or as small as $1, according to an estimate by the Kaiser Family Foundation. The average rebate should be about $151, according to a Federal government website on the Affordable Care Act (ACA), the law that set up the national health plan.

Should you be expecting a health insurance rebate?

Click here to read on…….


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