BlueCross BlueShield may Refund Customers $13.5 Million Charged in Higher Premiums

BlueCross BlueShield of Tennessee may have to refund up to $13.5 million to health insurance customers.

This was reported by timesfreepress.com.

Tennessee's biggest health insurer expects to return some of the increased premiums it charged nearly 90,000 individual plan members last year because of new requirements of the health care reform law.

Under new federal standards, BlueCross BlueShield will have to pay out enough of a record $5.1 billion in premium income to medical providers from its individual plans.

It is expected to mail refund checks in August for individual policyholders, although the actual eventual refund is expected to be less than $10 million.

Under health care reform, insurers must pay at least 80 percent of premiums to medical providers for individual and small group plans.



Source: Medindia