Did they change how HP Regen works?

I’m at ZMI wearing an HP cape and Regen bracelet and I noticed that instead of regenerating 1 hp every 15 seconds, I was instead generating 4 hp every minute mark instead. I could have swore that Regen bracelet and hp cape worked by halving the recovery time instead of doubling the amount healed.

Have I just always been wrong and it heals 4 hp/min instead of 1 hp/15 seconds???