736K self-insured Floridians to get rebate

 Health insurers will pay $124 million to about 1.3 million Floridians, with self-insured residents getting part of the total, according to the Florida Department of Health and Human Services. While the amounts vary, it should average about $168 per household.

The rebate is part of President Obama’s healthcare reform, in which an 80/20 rule requires health insurers to spend 80 percent of premiums directly on patients with 20 percent allocated to the cost of doing business, such as marketing and salaries. Companies must rebate money above and beyond its limit. Most insurance companies met the 80/20 rule, but about a third of the companies must send refunds to consumers.

Nationally, health care insurers will rebate about $1.1 billion to 12.8 million people.

“Some insurance companies spent as little as 60 percent of premium dollars on consumers at a time when insurance companies saw record profits while consumers saw record premiums,” says Health and Human Services Secretary Kathleen Sebelius. “This is about holding insurance companies accountable.”

Realtors who deserve a rebate don’t have to apply. If someone maintains a personal health insurance policy and deserves a refund, they will either receive a check in the mail or see a credit on their next insurance bill.

If a business receives a rebate for a group policy, it can apply it in several ways.

The U.S. Supreme Court is expected to issue a ruling shortly on the legality of the healthcare law. That ruling could impact the 80/20 rebate rule in the future.

The Orlando Sentinel looked at federal data and issued the following list of companies that will be issuing rebates in Florida:

Individual market

•American General Life and Accident Insurance Company
•American Medical Security Life Insurance Company
•American Republic Insurance Company
•Connecticut General Life Insurance Company
•Coventry Health Plan of Florida
•Golden Rule Insurance Company
•Humana Health Insurance Company of Florida
•Mid-West National Life Insurance Company of Tennessee
•Preferred Medical Plan
•The United States Life Ins. Co. in the City of New York
•Time Insurance Company
•World Insurance Company

Small group market (50 or fewer employees)

•Blue Cross and Blue Shield of Florida
•Humana Health Insurance Company of Florida
•UnitedHealthcare Insurance Company

Large group market (51 or more employees)

•Cigna HealthCare of Florida
•Health Options
•Humana Medical Plan
•Neighborhood Health Partnership
•UnitedHealthcare Insurance Company

Source: Marni Jameson, Orlando Sentinel, June 21, 2012 & Florida Realtors®