U.S. President Donald Trump said he will refund $500 (about 670,000 won) per person to 1 million people who overpaid health insurance premiums during former President Joe Biden's administration. Refund checks are scheduled to be mailed starting in October, a month before the November midterm elections.
On the 10th (local time), Trump said in a video released on the White House's official X (formerly Twitter) account, "Our administration uncovered that American households who enrolled in health insurance through the Obamacare exchange during Joe Biden's tenure were massively overcharged."
About 1 million people living in 30 U.S. states are eligible for refunds, and the total amount is at least $500 million (about 673.1 billion won).
Trump claimed, "The previous administration knew this and even investigated it, but kept the money and told no one." He added, "Our administration is doing the right thing and returning money to those who were unfairly deprived."
Trump said the refunds will be paid within weeks. The White House, in a separate fact sheet, said checks will be mailed starting in October to enrollees who meet eligibility requirements.
The announcement came a day after Trump pledged to pay $5,000 (about 6.73 million won) per U.S. adult.
Trump said at a Republican midterm convention in Dallas, Texas, the previous day that if Republicans win the election and keep their majority in both the House and Senate, he will pay $5,000 in dividends per adult. Democrats criticized the pledge as "vote-buying."
In the United States, after subsidies for health insurance premiums under Obamacare ended late last year, concerns have grown that enrollees' premium burdens have risen sharply. Cases of people canceling or forgoing renewal of their health insurance because they could not afford the premiums have also followed.
The Trump administration is changing the operating rules of the Obamacare exchange. The approach allows the exchange to sell plans that have narrower coverage than existing products but lower premiums.
As an alternative to Obamacare, Trump is pushing the "Great Healthcare Plan." The idea is to lower costs by disclosing medical cost information transparently and increasing competition among insurers instead of the government paying premium subsidies to insurers.
Trump said the refunds will "fully offset the premium increases caused by Democrats who protect only giant insurers," and claimed "large insurers control the Democratic Party."
Trump urged Congress to move quickly on the Great Healthcare Plan. "We will cut off the money paid to large insurers and give it directly to the people," Trump said, adding, "People will be able to purchase better medical services at far less expense and keep the money left over."