Congressman Andrews: Consumers Saved $3.9 Billion on Premiums in 2012 Due to the Affordable Care Act
WASHINGTON, D.C.(June 27) – Today, Congressman Andrews announced that the U.S. Department of Health and Human Services (HHS) recently reported that the Affordable Care Act (ACA) has saved consumers $3.9 billion on their health care premiums last year. Accoring to the report, 220,010 New Jersey residents will receive $10,768,382 in rebates from insurance companies this summer, an average of $104 per family.
Under the ACA, insurers must spend at least 80 cents of every premium dollar collected on patient care and quality improvement. This rule, known as the “80/20”
“People are tired of rising health insurance premiums and this is one more tool the Affordable Care Act has provided to control these costs without jeopardizing quality of care,” said Rep. Andrews.
As an original author of the ACA, Congressman Andrews remains committed to ensuring the recent reforms to our nation’s health care system will continue to help millions of Americans gain access to quality, affordable health care.