Horizon BCBS rebates members $40.5M in overpaid premiums

In December, 177,000 Horizon Blue Cross Blue Shield of New Jersey members received a rebate for overcharged premiums in 2018.

Advertisement

The rebates came after Horizon BCBS spent less than the required 80 percent of premium dollars on medical claims filed by their members, meaning expenses fell below projected claim costs for 2018. 

For about 148,000 members with an individual policy in 2018, rebate checks averaging $95 were mailed. Premium rebates were much higher for small groups, who received checks averaging $898. Rebates across plans totaled $40.5 million.

More articles on payers:
UnitedHealth shares worth 10 times what they were in 2010
‘No guarantee of payment’: Healthcare cost-sharing ministries face growing scrutiny
Former Target CFO takes on same role at health insurance startup Bright Health

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Capital

Advertisement

Comments are closed.