BCBS of Illinois to issue $108M in premium credits

Blue Cross and Blue Shield of Illinois is sending its members about $108 million in premium credits, the insurer said Oct. 6. 

Customers who are eligible for the premium credits will see them posted to their November statement. Most premium credits are made under the ACA's medical loss ratio rebate rule, which limits the amount of premium revenue insurers can use toward operations versus medical treatment. 

In total, BCBSIL said it has provided $400 million in relief during the COVID-19 pandemic. Relief measures include adjusting 2021 individual and group rates and extending cost-sharing waivers for telehealth services and COVID-19 testing and treatment.

More articles on payers:
Walmart partners with Clover Health for 1st insurance plans: 4 things to know
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BCBS of Arizona CEO: Work between payers, hospitals must strengthen

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