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Illinois slated to get $62 million in insurance rebates

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Illinois consumers are slated to get nearly $62 million in rebates from insurance companies under the federal healthcare law.

The U.S. Supreme Court could decide as soon as next week whether that law is constitutional.

The Affordable Care Act requires insurance companies to spend at least 80 percent of the premiums they collect on medical care and quality improvement. If that percentage isn’t met, the companies must return the difference to clients and employers by August 1. The federal department of Health and Human Services calculates the rebates based on information from each insurance company.

Officials say the Illinois rebates are expected to average $380 for 163,000 families.

But it’s possible that no one will get a check. The Supreme Court could decide next week whether the healthcare law is constitutional.

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