India, Sept. 10 -- President Donald Trump's administration plans to send up to $500 in direct rebates to as many as 1 million Americans who buy their own health insurance through Obamacare without receiving federal premium subsidies, Axios reported.

The payments are expected to reach eligible enrollees in 30 states before the November 3 midterm elections. Trump was expected to preview the plan during his speech at the Republican midterm convention in Dallas.

According to the report, the administration intends to use about $500 million in excess fees that the White House says were collected during the Biden administration and remained in federal accounts.

An administration official told Axios that the money "was over-collected and just ...