India, Sept. 10 -- The Trump administration said it would issue $500 payments to nearly 1 million Americans, citing what it described as "overcharges" for people who purchased health insurance through federal Affordable Care Act exchanges.

The payments are expected to be sent in October, the White House announced Thursday, just weeks before the midterm elections that will determine control of Congress, according to a Bloomberg report.

The timing of the announcement comes as Americans broadly disapprove of President Donald Trump's handling of the cost of living, an issue that has weighed on Republican candidates in key races across the country.

People in 30 states that use federal insurance exchanges will receive what the White House de...