Good news for 12.8 million Americans — insurers will start doling out $1.1 billion in rebates to reimburse consumers for spending too much of premiums on overhead, instead of mostly on medical care.

Today the Department of Health and Human Services announced the final refund amounts that health insurers will have to hand over, with the average family receiving $151 back as a result of the Affordable Care Act.

The act requires health insurers to spend on average at least 80% of premiums on actual medical care, instead of overhead and profits. Rebates will vary in size and depend on how you get your coverage: whether you buy it on your own or for your family, get it through a small business (50 or fewer employees), or through a large employer with more than 50 employees.

Final numbers are still pending release later this summer but refunds are due by Aug. 1.

“This is exciting news for families struggling with rising health insurance costs” said DeAnn Friedholm, Director of health reform at Consumers Union, the policy and advocacy division of Consumer Reports. “Because of the health reform law, consumers now are actually getting money back from insurance companies who spent too much money on overhead.”

Check out a map produced by Consumers Union listing companies that anticipate owing rebates based on earlier estimates reported by insurers.

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