|Targeted News Service|
"This is money back in Arizonans' pockets that would have gone to insurance company CEOs without the Affordable Care Act," Grijalva said. "This law is about making health care affordable and guaranteeing that insurance companies spend their revenue on better care instead of lining a few pockets. Anyone who opposes the Affordable Care Act should explain why these rebates are a bad idea. For the rest of us, this is welcome relief."
Any insurance company that spends more than 20 percent of each premium dollar on non-medical expenses, such as executive compensation, must provide its policyholders a rebate for the difference no later than
Consumers owed a rebate will receive one of the following:
* a rebate check in the mail;
* a lump-sum reimbursement to the same account that they used to pay the premium if by credit card or debit card;
* a reduction in their future premiums; or
* their employer providing one of the above, or applying the rebate in a manner that benefits its employees.
For a comprehensive explanation of the 80/20 rule and a breakdown of each state's rebates, visit http://1.usa.gov/Lcnlnr.
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