Health insurers owed Virginians slightly more than $43 million in rebates as part of the federal health care law.
Nearly 687,000 Virginians have received rebates on average of $115 from insurance companies because of a provision in the Affordable Care Act requiring at least 80 percent of premiums be spent on medical care as opposed to administrative costs. For employers with more than 51 workers the minimum threshold for premium dollars spent on medical care is 85 percent.
The law applies to the individual, small group and large group markets. Under the law the rebates had to be paid by Wednesday, with many people having received checks at the end of July.
In some instances the rebate could be used as a credit to offset future health care costs.
Did you receive a rebate?