Hoyer: Affordable Care Act Already Saving Us Money

Noting many Marylanders received rebates of $143 on average, Congressman Steny H. Hoyer highlighted how the Affordable Care Act is delivering positive results for Maryland consumers: This year alone, 150,000 Marylanders covered by private insurance plans benefitted from a provision that requires insurance companies that don’t spend at least 80 percent of premium dollars on health care benefits to provide consumers with a rebate or reduce premiums for the difference. That rebate was $143 on average.

“I’m pleased the Affordable Care Act has helped ensure consumers receive better value from their premium dollars and saved individuals and families in Maryland $143 on average this year,” stated Congressman Hoyer. “With this important consumer protection, insurance companies are now being held accountable, ensuring premiums are being spent on improving care, instead of padding profits. As the law continues to be implemented, I remain focused on ensuring more Marylanders benefit from quality health care coverage, including monitoring efforts to improve the Maryland Health Connection.”

In 2012, 8.5 million consumers across the country received an average rebate of approximately $100 per family. Additionally, families are benefitting from a provision requiring insurance companies to publicly post and justify any proposed rate increase of 10 percent or more.