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Obamacare Consumers See $2 Billion in Refunds Amid Deferred Care

Dec. 17, 2021, 9:49 PM

Nearly 10 million Obamacare enrollees received $2 billion in refunds for 2020, the Department of Health and Human Services reported Friday.

The Affordable Care Act requires health plans to provide rebates to consumers if the insurers don’t spend at least 80% of premiums collected on claims or activities that improve the quality of care, a formula called the medical loss ratio. The Centers for Medicare & Medicaid Services released data from all health insurers’ final medical loss ratio filings for the 2020 reporting year showing that 4.8 million consumers in the individual market received $1.3 billion and 5 million employees ...