Blue Cross and Blue Shield of North Carolina plans to send rebates to about 700,000 members after its administrative and other costs surpassed an ACA cap, according to The Coastland Times.
When insurers don’t keep administration, marketing and profits to 20 percent or less of premium dollars, the ACA requires payers to reimburse members. While this is the first time BCBS of North Carolina will issue the rebates, about 6 million U.S. customers have received similar reimbursements since 2012, averaging $119 per person, according to CMS data cited by The Coastland Times.
BCBS of North Carolina posted profits of $685 million in 2018 on $9.1 billion in premiums. Member rebates will average less than $75 per person, according to the report.