Nationwide, insurance companies are paying out $1 billion to consumers this month, including $8.9 million from five Minnesota insurance companies, according the Pioneer Press. Bloomington-based HealthPartners will provide the most at $6.8 million. The rebates are required by the federal Affordable Care Act, which set a limit on the share of premium revenue that health insurers could dedicate to administration, marketing and profit.
Sen. Al Franken says more than 123,000 Minnesotans are benefiting from the provision, even though some won’t get checks in the mail. WCCO reports many of the rebates went to employers that purchase health insurance for employees.
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