Capital BlueCross is speeding up its issuance of rebate checks to eligible members, sending them several weeks earlier than expected. Nearly 40,000 members will receive checks from the insurer that average $800 per member, but range as high as $3,000, depending on the member’s policy.
“The pandemic has caused so much uncertainty and economic hardship, we want to get this money in the hands of our members as soon as possible,” said Capital BlueCross President and CEO Todd Shamash. “It’s one of many things we’re doing to help our members, our communities, and our doctors and health systems weather this unprecedented health emergency.”
Members who were covered in 2019 under an individual or family PPO plan issued by Capital Advantage Assurance Company, a subsidiary of Capital BlueCross, are eligible for a rebate. Those who were covered under an employer’s plan in 2019 did not qualify for a rebate. The rebates are part of the federal Patient Protection and Affordable Care Act, which requires health plans to return a portion of individual coverage premiums if they don’t meet the appropriate medical loss ratio of healthcare services and administrative costs. Capital BlueCross is speeding up these rebates, typically issued in September, so members can receive them much earlier in light of COVID-19.
Also in response to the pandemic, Capital BlueCross has increased its donations to local nonprofit organizations, like food banks, by hundreds of thousands of dollars – and it has provided more than 6,000 meals to first responders, frontline healthcare workers, nursing home staff, and families of underserved students.
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The company also has offered financial help to independent doctors, co-sponsored community wellness programs, and waived all costs for medical, behavioral health counseling, psychology and psychiatry visits for eligible members whose plans include Capital BlueCross’ Virtual Care telehealth benefit.
“As our goal is always to ensure our members’ access to important, quality care, we will be extending many of our member cost waivers and coverage enhancements as, unfortunately, the COVID-19 case counts continue to climb,” said Shamash.
Source: Prnews Wire