Mass. Insurers To Rebate $57M To Small Businesses, Individuals

The rebates, by five of the state's largest insurance companies, will go to 50,000 individual policy holders and 50,000 small businesses.

The Associated Press/Washington Post: Mass. Officials OK $56.8 Million In Health Insurance Rebates For Small Businesses, Residents
State officials say Massachusetts residents and small employers will benefit from $56.8 million in health insurance rebates. Insurance commissioner Joseph Murphy said on Tuesday that the rebates, from five of the state's largest insurers, will be delivered to some 50,000 individual policy holders and another 50,000 small businesses in Massachusetts (6/26).

Boston Globe: Mass. Insurers Returning $57 Million
Insurers in Massachusetts will return $57 million to individuals and small businesses because they spent too much of the money collected as premiums on administrative costs or surpluses. That's about $10 million more than was expected based on filings the insurers made to the state earlier this month. Barbara Anthony, undersecretary of Consumer Affairs and Business Regulation, said some insurers miscalculated what they owed (Conaboy, 6/27).