Houston Chronicle by Jenny Deam Sep. 13, 2019
Health insurers must issue refunds to hundreds of thousands of Texas consumers overcharged nearly $92 million for plans purchased last year. The mandate to issue refunds comes under a provision in the Affordable Care Act that limits how much companies can keep for overhead and profit.
The bulk of the rebates — a total of $80.4 million from four companies— will go to those who overpaid for plans purchased on the individual market in 2018, according to data from the federal Centers for Medicaid and Medicare Service analyzed by the Kaiser Family Foundation. The rest, roughly $11.5 million, will be refunded by two insurers to more than 500 large Texas employers who bought plans for their workers last year, the data showed.
The refunds will come either as a check to customers or premium credit and must be issued by the end of this month under federal law. Insurance companies are required to notify customers of the amount and method of disbursement. Because of the number of people affected, the amounts paid to each consumer will likely be small, typically from about $25 to a few hundred dollars, a Chronicle review of the data determined.
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https://www.houstonchronicle.com/business/article/Insurers-overcharged-Texans-92-million-last-14435933.php
