In addition to the premium credits to members with employer-based coverage, BCBSTX also issued about $250 million in rebates to individuals and small groups this fall. The rebates were issued because of the medical loss ratio protection under the ACA. That rule limits how much insurers can spend on their business operations as opposed to medical costs.
To date, BCBSTX’s parent company, Health Care Service Corp., has provided $930 million in relief related to the COVID-19 pandemic.
More articles on payers:
Cigna won’t cover some hospital-based MRIs, CT scans under new policy
Walmart Health COO outlines health insurance business: 5 things to know
BCBS Association names new CEO: 4 things to know
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.