Blue Cross and Blue Shield of Minnesota is providing $70 million in premium rebates and discounts as patients have pulled back from many types of routine health care with COVID-19.
The state’s largest health insurer said Friday it would offer about $38 million in premium relief to Medicare members, people who purchase individual health plans and certain business customers through one-time credits of 10% to 25%.
The savings will be applied to an upcoming monthly bill before year’s end, according to Eagan-based Blue Cross.
The credits would be in addition to about $31 million in rebate checks to Blue Cross’ individual market customers that were mandated by the federal Affordable Care Act. The insurer said it recently completed an accelerated mailing of the rebates.
“Due to pandemic-related postponements of elective procedures and other delays in nonemergency health care, many businesses saw a significant decrease in the use of medical benefits among their employees,” Blue Cross said in a statement. “In response to this unexpected decrease of covered care, Blue Cross is providing a one-month premium relief credit of 20% for more than 9,000 small and large companies throughout Minnesota.”
Blue Cross is the latest health insurer to issue faster rebates and discount premiums in the wake of COVID-19. Minnetonka-based UnitedHealthcare, the nation’s largest health insurer, has highlighted its premium relief efforts at several points over the past few months.
This is a developing story. Check back for updates.
Twitter: @chrissnowbeck