You will soon be able to receive a COVID ‘stimulus check’ from your health insurer

You will soon be able to receive a COVID ‘stimulus check’ from your health insurer

These rebates are coming through because a number of insurance companies failed to meet the ACA’s medical loss ratio threshold in 2020, which requires insurers to spend at least 80% of premium revenues on health care claims or quality improvement activities. ALPA PROD / Shutterstock Last year, some companies fell short of their threshold as health spending and utilization dipped during the pandemic.

Here’s what you need to know about how these rebates will work. For the average consumer who bought health insurance on the individual market, that means an average cash rebate of $299 in the fall.

Why are we getting these rebates? That sum will be the second-highest amount ever issued under the Affordable Care Act (ACA) after last year’s record-breaking $2.5 billion in refunds.

Joshua Resnick / Shutterstock Not every policyholder can expect some cash back and how much you’ll get varies by market. Who should expect a rebate?

But everyone continued to pay their premiums, resulting in higher levels of profits for the insurance companies who had set their rates well before the pandemic hit. This happened in part because providers cancelled elective procedures and consumers opted to forgo routine care to avoid potential exposure at a doctor’s office.

The News Highlights

  • You will soon be able to receive a COVID ‘stimulus check’ from your health insurer
  • Check the latest Health news updates and information about health.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Public Safety Committee provides Regulations on use of body cameras

Public Safety Committee provides Regulations on use of body cameras

Director Marcus Graydon said he is trying to get the department up to better standards by having these policies implemented. Public Safety Committee members ...
Clifton High School sports athletes compete for respect and recognition

Clifton High School sports athletes compete for respect and recognition

“Mr. Marmorstein had the vision to make esports a reality for the students at Clifton High School,” Superintendent of Schools Danny Robertozzi said. “We ...
Lake County General Health District will conduct coronavirus vaccine clinics at the Mentor office.  |  News

Lake County General Health District will conduct coronavirus vaccine clinics at the Mentor office. | News

Source Monday, May 10Monday, May 17Tuesday, May 18Wednesday, May 19Monday, May 24Tuesday, May 25Thursday, May 27 The clinic dates are as follows: More ...
Chinese Long March 5B rocket returning to Earth may hit Saturday

Chinese Long March 5B rocket returning to Earth may hit Saturday

A Long March 5B rocket lifts off from the Wenchang Spacecraft Launch Site in Wenchang in southern China’s Hainan Province.AP China’s government has said it ...
Editorial: May is Mental Health Awareness Month |  Editorial

Editorial: May is Mental Health Awareness Month | Editorial

Source This laudable effort, “Mental Health is a Puzzle, But We Have the Missing Pieces,” aims not only to raise awareness, but to provide resources such as ...
Sagicor Financial Company Ltd. Announces Maturity and Results of the Cash Purchase Offer for any and all 8.875% Senior Notes due 2022 issued by Sagicor Finance (2015) Limited and Notes Purchase Agreement

Sagicor Financial Company Ltd. Announces Maturity and Results of the Cash Purchase Offer for any and all 8.875% Senior Notes due 2022 issued by Sagicor Finance (2015) Limited and Notes Purchase Agreement

About Sagicor Financial Company Ltd. None of the U.S. Securities and Exchange Commission, any U.S. state securities commission, any Canadian securities ...
Crypto looks like the dot-com space of the 1990s, and bitcoin may not survive it, says chief investment officer |  Currency news |  Financial and business news

Fulgent Genetics reports record first quarter financial results

Record Adjusted EBITDA of $271.9 million Record Non-GAAP income of $202.9 million, or $6.59 per share Cash from operations of $233.2 million; Cash and ...
Nintendo’s Game Builder Garage will teach kids how to make games for the Switch

Nintendo’s Game Builder Garage will teach kids how to make games for the Switch

Source The game seems to have taken inspiration from Super Mario Maker. Players will be greeted with a colorful interface while playing the game, but it ...
Multinationals repay UK Covid emergency loans

Multinationals repay UK Covid emergency loans

Other companies — including BASF and Bayer — repaid their debts earlier after the economic shock of Covid proved to have less of an impact on their finances ...
Show next
Compsmag - Latest News from tech, business and health
Logo