Guam – The average health insurance rebate due families on Guam is $852 dollars, the highest average rebate per family in the nation.
The U.S. average rebate owed to a family is just $151 dollars.
In all, the island’s 4 health insurance providers will be paying out $15-million dollars in rebates on August 1st.
$8.2 million of that is being paid by SelectCare which insurers the largest number of subscribers because of its hold on the GovGuam employee health insurance contract. Staywell, Netcare and Takecare will also be paying back premiums that exceeded the allowable medical-loss ratio.
SEE the rebate amounts for the states and territories on healthcare.gov HERE
How will you get your rebate?
Most people are insured through an employer sponsored plan. The cost is split between you and your employer. That means that both you and your employer will be getting a rebate. And SelectCare Administrator Frank Campillo says your employer has a number of options on how to provide your share of the rebate.
Those options are:
- a rebate check in the mail
- a lump-sum reimbursement to the same account that was used to pay the premium if it was paid by credit card or debit card
- a direct reduction in their future premiums
- their employer providing one of the above rebate methods, or applying the rebate in a manner that benefits its employees.
The bottom line is that you may not get a check in the mail. It may only be a reduction in your future health care premium.
