Skip to main content

Blue Shield CA To Return $50 Million In Premium Credit

Blue Shield of California has announced that the insurer will return $50 million in premium credits for the 2012 2% Pledge.  

From the Blue Shield web site:

As a not-for-profit health plan dedicated to providing access to quality health care at an affordable price for all Californians, Blue Shield of California believes health care is a fundamental right. But access to care will only be achieved if coverage is affordable.

That's why we made this pledge: if we earn net income of more than 2% of revenue in any year, we will give back the difference to our customers and the community. Blue Shield is committed to the 2% Pledge, as long as our board of directors determines that the company remains financially solvent, with sufficient funds to make the investments needed to stay competitive.

To date, Blue Shield has returned more than $470 million to customers and the community to offset net income earned above the 2% threshold in 2010 and 2011.

In 2012, Blue Shield will again fulfill our 2% Pledge commitment and will return $50 million to our customers. The funds will be returned to eligible customers in the form of credits on their billing statement for December 2012 dues/premium.
The 2% Pledge credits will be returned as follows:
  • Fully insured individual plan (including Medicare Supplement) and group customers will receive a 9% credit on one month's dues/premium
  • Customers with whom we share risk with will receive a 3% credit on one month's dues/premium
  • Self-funded groups are not eligible for the credit, nor are persons covered under certain federal and state government contracts that don’t provide a way to give credits
Customers will be sent a letter notifying them of their credit amount, which is based on their August 2012 dues/premium. Customers must have coverage in effect from August 1, 2012 through December 31, 2012 to receive the credit.


Dave
www.davefluker.com

Comments

Popular posts from this blog

Anthem Blue Cross (CA) Adding SilverSneakers® Fitness Program

Anthem Blue Cross (CA) announced this morning that they will be adding the SilverSneakers Fitness Program to California Medicare Supplement Plans A, F, and N.  The added benefit will begin on January 1st, 2017. 

Once approved for release into the market, more states have been added to the list as existing and new members in our marketed plans will enjoy the value-added benefits of the SilverSneakers Fitness program at no additional cost! Effective January 1, 2017, California members in our marketed plans will enjoy SilverSneakers, too.  The program offers members their choice of paths to better health. For those who enjoy a traditional workout setting, SilverSneakers offers access to more than 13,000 fitness locations across the country, including use of classes and guidance from a Program AdvisorTM. In addition, for those who can’t get to a fitness center, SilverSneakers Steps® kits focus on at-home or on-the-go general fitness, walking, strength training or yoga. And if that is not …

How Will Donald TRUMP ObamaCare?

With the election of Donald Trump as the next US President, healthcare reform and ObamaCare are on the chopping block.  There is media speculation that a transformation away from the current ObamaCare system will be rather immediate once Donald Trump is sworn into office in January.  


While changes are certainly coming, I would not expect a wholesale changeover immediately, but rather over the course of 2017.  My hope is to see an open market available at any time during the year (like it used to be) instead of an abbreviated Open Enrollment Period.  

Below are some key points to a Donald Trump-Care system and a link to his Healthcare Reform Paper which goes into more detail...



 1. Completely repeal Obamacare. 2. Modify existing law that inhibits the sale of health insurance across state lines. 3. Allow individuals to fully deduct health insurance premium payments 4. Allow individuals to use Health Savings Accounts (HSAs). 5. Require price transparency from all healthcare providers.6. Bl…

2016 Open Enrollment Has Begun

Here to kickoff the 2016 open enrollment period which will run from November 1, 2015 to January 31, 2016.  

It is important to remember that during the open enrollment period all rules regarding SEP (special election period) enrollment dates for loss of employer coverage are off of the tablle. Than means no retroactive start dates on the Covered California health exchange.

Remember during open enrollment you may sign up for any available health insurance plan either off- or on-exchange with no medical underwriting.

My site features live free instant quotes and online applications for off-exchange subscribers.

For Covered California exchange subscribers, I can take your information over the phone and set up your account on Covered CA for you.  You would need to log in with a special code I would provide upon submission of the application and select your plan/pay the initial premium via Covered CA.  

Carrier for 2016 include:

*Anthem Blue Cross PPO, Tiered PPO and HMO
*Blue Shield of Californi…