Thousands can expect refunds from NC insurance companies

RALEIGH, N.C. (WNCT) – Around 162,000 North Carolina health insurance policyholders can expect to get a refund, according to North Carolina Insurance Commissioner Wayne Goodwin.

Goodwin announced on Monday that health insurance companies will be paying nearly $8.5 million in rebates because of a violation of a federal rule.

It is the 80/20 rule that deals with insurers spending at least 80 percent of premium dollars on improving the quality of care and no more than 20 percent on administrative costs.

Violators include UnitedHealthcare Insurance Company, CIGNA HealthCare of NC and Coventry Healthcare of the Carolinas.

Coventry and UnitedHealthcare offer plans under the Affordable Care Act on the federal exchange, HealthCare.Gov.

Goodiwn says consumers can expect to get a refund check in the mail or a reimbursement or direct reduction in future premiums. If a person bought insurance through their employer, the employer will get the rebate and then must provide the employee his or her share. This could come as a check, reimbursement, reduction in premiums or apply it in some other benefit for the employee.

All the insurance companies can be found here.

 

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