GUAM - More than 49-thousand island residents will benefit from two million dollars in health insurance rebates.
 
The U.S. Department of Health and Human Services says the total rebates, under the Affordable Care Act, amount to an average of 2,615 dollars for Guam families. The rebates must be paid out by August first. Under the Affordable Care act, insurance companies must comply with the 80/20 medical loss ratio, which means they must spend at least 80 cents of every premium dollar on patient care and quality improvement. If more is spent on profits, rebates are issued for the difference. Health and Human Services secretary Kathleen Sebelius says "the new standard is increasing transparency and accountability, promoting better business practices and competition among insurance companies and ensuring consumers receive value for their premium dollar."    

The rebates will either come in the form of a check in the mail, a lump sum reimbursement to a credit or debt card, reduction in premiums or to the employer.