Obamacare Rebates: 8.5M Americans To Receive Around $100

President Barack Obama's White House speech Thursday has placed the spotlight on tangible benefits the controversial health care reform bill will bring for people who are already covered.

The president called attention to the 85% of Americans who already have health insurance, either from Medicare, Medicaid, or through their employers. Obama cited the effects his Affordable Care Act has accomplished, as he focuses on the primary reason behind it:

"Affordable care is not some sort of privilege for the few. It's a basic right, for everybody. And we're going to continue to fight to secure that right."

Obama's new policies demand that at least 80% of the payment that employees give are truly being used for health care, while only 20% of the payment can be used for administrative purposes. If an insurance provider is not able to fulfill this requirement, they are required to rebate the lacking benefits to the employee.

"If you're one of the 85 percent of Americans who already have health insurance -- could be through your employer or through Medicare or through Medicaid -- you already have an array of new benefits in place. You don't have to wait until Oct. 1. You're already getting benefits even if you don't know if it's because of the Affordable Care Act," the president boasted of the Obamacare rebates.

The mandatory rebates are requiring the policy makers to either give more benefits or to reduce the price of the health care.

CNBC claims that because of the act, 8.5 million Americans would receive a average rebate of $100 this summer.

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