Blue Cross Blue Protect of Massachusetts declared Wednesday that it is returning $one zero one million in top quality refunds and rebates to its users.
The insurance provider claimed it is ready to do this because of the decreased-than-expected expense of health care throughout the COVID-19 pandemic.
The refunds will be mirrored on fully insured employer teams and members’ September invoice and will equivalent fifteen% of their Could 2020 professional medical top quality. For Medicare Gain users, a a person-thirty day period “top quality holiday break” will be granted in which they will not likely be charged that thirty day period.
WHY THIS Issues
The COVID-19 pandemic has experienced a massive effect on the health care sector. Though providers have been struggling fiscally from the included expense of COVID-19 therapy and deficiency of elective processes, insurers have saved cash from the reduction in claim charges.
Insurers have been refunding cash