Health insurers will refund to their customers next month only a fraction what they did a year ago under requirements of Obamacare.
Tennesseans will get back $5.6 million and Georgians will receive more than $15 million in refunds next month from health insurers that didn't meet the medical pay-out ratios under the Affordable Care Act. The payments are part of $500 million in rebates being distributed nationwide in August to 8.5 million enrollees, who will share an average rebate of around $100 per family.
A year ago in the first year of the new requirement, insurers nationwide refunded $3.9 billion to customers -- including $29.5