Private insurance companies are expected to provide $2.1 billion in rebates to 10.7 million policyholders, the second-highest amount issued under the Affordable Care Act, according to Yahoo Finance and the Kaiser Family Foundation.
Consumers who purchased coverage through the exchange marketplace are expected to receive an average of $299 each this fall.
The rebates are a result of payers falling short of the ACA's medical loss ratio threshold in 2020 — which requires insurers to spend at least 80 percent of premium revenues on healthcare claims — while customers continued to pay premiums, the article said.