Blues plans offering 2nd round of refunds to members amid COVID-19

With lower numbers of claims coming in amid the pandemic, car insurers have thrown some cash back to customers to share some of the savings.

Health insurers have been following suit.

Many health plans offered premium assistance earlier in the year. But, amid strong financial performance, a number of insurers are coming back for a second round of payouts. Blue Cross Blue Shield of Michigan (BCBSM), for instance, is making an additional $21 million in refunds available for members in its individual plans.

This follows $100 million in refunds for Medicare Advantage, employer group and individual market health, dental and vision plans that was announced earlier this year.

The rebates will be available to 180,000 members and will be paid out in a 30% premium credit in November, BCBSM said.

“Many people in Michigan are struggling with the economic impacts of the pandemic, so we’re very pleased to provide a credit that will reduce November premiums by 30% for our individual plan members,” said BCBSM CEO Daniel J. Loepp in a statement. “It’s critical for people to maintain their health insurance coverage, especially during a pandemic, and Blue Cross is doing what we can to help.”

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Blue Cross Blue Shield of Rhode Island (BCBSRI) is also offering a second wave of premium relief funding, the insurer announced Thursday. BCBSRI will make $11 million in rebates available to fully insured large and small group customers as well as people enrolled in its individual market plans.

The value will range from a 10% to 30% premium rebate to be credited in the fourth quarter of 2020, BCBSRI said.

BCBSRI earlier this year offered $13.8 million in medical premium relief as well as a 25% premium credit for dental plans.

“Although the use of healthcare services appears to be returning to normal, pre-pandemic levels, we saw a significant financial impact through early summer as our members chose to defer elective procedures and routine doctor visits,” said Kim Keck, BCBSRI president and CEO, in a statement. “Recognizing that many employers and members continue to experience tremendous economic uncertainty, we believe that offering additional premium relief is a meaningful way to help them right now.”

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Blue Cross and Blue Shield of Minnesota will make $38 million in premium relief available to Medicare, individual and family plan and fully ensured employer plan members, which will be applied to a bill by the end of the year.

Rebates will range from 10% to 25%, Blue Cross MN said. The announcement follows on the heels of more than $31 million in rebate checks that were accelerated to members enrolled in individual and family plans last year.

Checks were mailed out by the end of July, instead of the traditional September dispersal, Blue Cross MN said.

“We continue to sharpen our focus and look for additional opportunities to be there for our members and employer groups through these dual public health and economic crises,” said Craig Samitt, M.D., CEO of Blue Cross MN, in a statement. “While there is no one solution to address the many challenges and uncertainties we now face, Blue Cross will continue to live by our nonprofit mission of helping our communities be strong, safe and healthy.”