U.S. health insurers to pay $330 million in premium rebates

(Reuters) – U.S. health insurers will send out about $330 million in rebates to employers and individuals this summer under President Barack Obama's healthcare law, the U.S. Department of Health and Human Services said on Thursday. The law, often called Obamacare, requires insurance companies to refund customers when they spend less than 80 percent or 85 percent of healthcare premiums they collect for medical care. The rebates will go to about 6.8 million people and have a value of about $80 per family. They are to be sent by Aug. 1 either directly to consumers or to the employer providing the health coverage, who is required to pass the savings onto employees, the agency said in a report.