US announces Va. refunds under Affordable Care Act

US announces Va. refunds under Affordable Care Act

Credit: Associated Press

US announces Va. refunds under Affordable Care Act

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Associated Press

Posted on July 24, 2014 at 5:11 AM

Updated Thursday, Jul 24 at 7:04 AM

RICHMOND, Va. (AP) — Nearly $9 million in refunds from insurance companies are headed to 104,000 consumers in Virginia.

Health and Human Services Secretary Sylvia M. Burwell announced the refunds Thursday, crediting the Affordable Care act.

Burwell said the refunds in Virginia will average $148 per family.

The payments are being made under a provision of the act that requires insurers to make the refunds if they spend an excessive amount on red tape and bonuses for executives.

Virginians entitled to a refund will get the money through a check in the mail or in a reduction in future premiums, among other ways.

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