Refunds to ACA customers expected to surpass $2 billion

Health insurers are expected to pay $2.1 billion in refunds to Obamacare enrollees this fall, the second highest amount ever, the Kaiser Family Foundation reported Tuesday. The refunds, or rebates, are based on Affordable Care Act “medical loss ratio” requirements that insurers spend at least 80% of premiums on claims or quality improvements, they or refund the difference to consumers. The rebates due this fall are about $400 million less than the record high of $2.5 billion in 2020, but more than 50% higher than the $1.4 billion insurers sent back to policyholders in 2019, the foundation said.