Obama touts insurance rebates for 8.5M under ACA

More than 8.5 million people will receive rebates from their insurance providers this summer because of the Affordable Care Act, President Barack Obama said Thursday in a White House speech. The law requires insurers to allot 80% or more of spending to care and care quality improvement or write rebate checks. "Last year, millions of Americans opened letters from their insurance companies, but instead of the usual dread that comes with getting a bill, they were pleasantly surprised with a check," Obama said.

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