Nearly two million Californians should receive a health insurance premium rebate this week. As Amy Quinton reports from Sacramento, the rebates are the result of the federal Affordable Care Act.
The federal law requires health insurers to spend at least 80 percent of their premium money on actual health costs, rather than marketing and other non-medical expenses. Insurers who don’t meet that percentage are required to issue refunds. California Insurance Commissioner Dave Jones says premium rebates total about $74 million, or about $65 per family.