BlueCross BlueShield may Refund Customers $13.5 Million Charged in Higher Premiums

by Lakshmi Gopal on  April 22, 2012 at 10:07 PM Health Insurance News
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BlueCross BlueShield of Tennessee may have to refund up to $13.5 million to health insurance customers.

This was reported by timesfreepress.com.
 BlueCross BlueShield may Refund Customers $13.5 Million Charged in Higher Premiums
BlueCross BlueShield may Refund Customers $13.5 Million Charged in Higher Premiums

Tennessee's biggest health insurer expects to return some of the increased premiums it charged nearly 90,000 individual plan members last year because of new requirements of the health care reform law.

Under new federal standards, BlueCross BlueShield will have to pay out enough of a record $5.1 billion in premium income to medical providers from its individual plans.

It is expected to mail refund checks in August for individual policyholders, although the actual eventual refund is expected to be less than $10 million.

Under health care reform, insurers must pay at least 80 percent of premiums to medical providers for individual and small group plans.



Source: Medindia

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