Health Insurance Refunds: Estimates for 2022

Private health insurance companies may owe consumers an estimated $1 billion in rebates this fall. This is revenue from health insurance premiums that are collected but not expended on care. The estimate is from a new Kaiser Family Foundation Analysis. Recall, the provision that allows rebates comes from the Affordable Care Act’s Medical Loss Ratio Rules which require individual market insurers to spend at least 80% of premium income on claims (85% in the large group market) or pay a refund. We explain.

0:00 Rebates for 2022
1:26 Rebate amounts
2:01 Sources

Read the KFF Issue Brief:
https://www.kff.org/private-insurance/issue-brief/data-note-2022-medical-loss-ratio-rebates/

Read the Press Release:
https://www.kff.org/private-insurance/press-release/private-insurers-expect-to-pay-1-billion-in-rebates-to-consumers-this-year-for-setting-premiums-too-high-relative-to-medical-costs/

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