BCBS will issue premium credits to fully insured group customers on their November 2020 billing statements. The credits apply as a percentage of October 2020 premium:
- 15% of medical premium applicable to all fully insured group policies in all segments
- 50% of dental premium applicable to fully insured dental policies with 51+ active dental subscribers
This is a one-time event applicable to one billing statement. The premium credits total $104M and are intended to provide additional support during the COVID-19 pandemic. The credits to not impact producer commissions.
Read this BCBS news alert for more details.