Posted at: 08/05/2013 12:31 PM
ST. PAUL, Minn. (AP) - More than 9,000 Minnesotans are line for health insurance rebate checks being sent out as part of the nation's new health care law.
The checks average $300.
Sen. Al Franken touted the givebacks Monday, which result from a provision that requires insurance companies to limit the amount of premium dollars they spend on administrative overhead. Insurers that don't spend at least 80 percent on actual health care must rebate the difference to customers or employers who contribute to premiums.
The number of recipients is a fraction of the 123,000 who got checks last year. Franken says it shows insurers are making strides at containing administrative costs.
Minnesota Commerce Commissioner Mike Rothman says those receiving rebates this year have policies with Preferred One and Connecticut General.