Mountlake Terrace, Wash., May 13, 2020 (GLOBE NEWSWIRE) -- Premera Blue Cross, a leading health plan in the Pacific Northwest, today announced that more than 200,000 of its commercial and individual customers across Washington and Alaska will receive up to $65 million in premium relief funds and premium rebates over the coming months.
These represent the latest steps Premera has taken to support its customers, health care providers and local communities during this pandemic.
“These are unprecedented times for our healthcare system. As hospitals and clinics cleared space for COVID-19 patients, many of our customers have paid for care they have been unable to fully access. While we believe demand for care will increase as restrictions are lifted, we also believe it is important to do what we can to help our customers and our communities manage this crisis,” said Jeff Roe, CEO and President of Premera Blue Cross.
Premera is committing up to $25 million to provide premium relief for small and large group commercial customers, many of whom have been particularly hard hit by the economic crisis in the wake of the COVID-19 pandemic. These employers can expect to see premium relief applied to their August billing cycle.
In addition, Premera is working to accelerate nearly $40 million in rebates required under the Affordable Care Act to Washington and Alaska customers who purchased their insurance in the individual market due to a requirement under the Affordable Care Act.
Health insurance carriers participating in the Affordable Care Act are federally required to spend at least 80% of the premiums they collect on health care services, like paying doctors and hospital bills, and efforts to improve health care quality, like improving patient safety. When payers don’t spend at least 80% on these services, they must return funds to individuals. Normally, customers would not see these rebates until late in the year. Premera is working to accelerate distribution of those rebates to later this summer.
Premera has also previously announced the following steps taken to support its customers:
Additional steps Premera has taken to support its providers during the COVID-19 pandemic include the following:
Learn more about Premera's response to the COVID-19 outbreak for our customers.
About Premera Blue Cross
Premera Blue Cross is a leading health plan in the Pacific Northwest, providing comprehensive health benefits and tailored services to about 2 million people, from individuals to Fortune 100 companies.