Health Law Led to $2.1 Billion in Savings for Consumers, Report Says

A new report estimates that U.S. consumers who purchase their own health insurance saved $2.1 billion last year due to tougher rules in the federal healthcare law.

Thursday's report by the nonpartisan Kaiser Family Foundation estimates that individual premiums would have been $1.9 billion higher in 2012 without the requirements in the federal Affordable Care Act. In addition, the nonprofit group said individual policyholders nationwide should receive $241 million in rebates this summer.

Insurers must issue rebates to individuals and small businesses if they don't spend at least 80% of their annual premiums on medical care.

This week, The Times reported that Blue Shield of California owes $24.5 million in rebates to thousands of small firms, and Anthem Blue Cross owes $12 million to some small businesses in the state. These rebates and additional amounts coming from other insurers must be paid by Aug. 1.

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Source: Los Angeles Times