Nearly 5,000 Ver­mon­ters to ben­e­fit

From $2.3 mil­lion in in­surance re­bates

Stanstead Journal - - FORUM - Burlig­ton, VT

Ver­mont’scon­gres­sional del­e­ga­tion – Sen. Patrick Leahy, Sen. Bernie Sanders and Rep. Peter Welch – Fri­day, June 22, an­nounced that 4,636 Ver­mon­ters will ben­e­fit from $2,346,018 in re­bates from in­surance com­pa­nies this sum­mer un­der a pro­vi­sion in the Af­ford­able Care Act. The health care law re­quires in­surance com­pa­nies to spend at least 80 per­cent of con­sumers’ pre­mium dol­lars on med­i­cal care and qual­ity im­prove­ment. In­sur­ers can spend the re­main­ing 20 per­cent on ad­min­is­tra­tive costs. In­surance com­pa­nies that do not meet the 80/20 stan­dard must pro­vide their pol­i­cy­hold­ers a re­bate for the dif­fer­ence no later than Aug. 1, 2012.

In a joint state­ment, Leahy, Sanders and Welch said, “In­surance pre­mi­ums should go toward pro­vid­ing care to peo­ple who get sick. That’s sim­ply com­mon sense.”

Na­tion­wide, 12.8 mil­lion Amer­i­cans will ben­e­fit from $1.1 bil­lion in re­bates un­der the 80/20 stan­dard.

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