Michigan consumers who buy individual health insurance can receive up to $ 89 million in Rebates for the next three years as part of federal health reform requirements.
Earlier this week, the US Government said it rejected Michigan Insurance Commissioner r. Kevin Clinton request to temporarily waive insurance in Michigan from the requirement that insurers spend 80 percent of premium dollars on consumer health and not more than 20 percent on the cost of administration.
Customers of insurance that does not meet the 80-20 rule will see rabat August based on company data from this year, said Gary Cohen, acting Director for the Center for monitoring the consumer information and insurance oversight in the United States Department of health and human services. The rebate will come in the form of a check or credit towards their insurance premiums, he said Monday during a call with reporters.
The country has 10 days to appeal and has not yet decided whether it will, says Jason Moon, a spokesman of the State Insurance Office.
“We are disappointed with the agent’s decision not to let HHS’s Michigan health insurance time to match federal medical loss ratio of higher standards,” Clinton said in a statement. “We hope it does not result in increased costs and less consumer choice.”