Sponsored by National Medical Billing Services | info@nationalASCbilling.com | (636) 273-6711

Nearly $50M in Rebates Paid to Insurance Policy Holders in Georgia, Tennessee

Health insurance companies — including the state's largest provider, BlueCross BlueShield of Tennessee — mailed nearly $50 million in rebates to almost 500,000 individual policy holders in compliance with the Affordable Care Act, according to the Times Free Press.

The health care law requires insurers to give out rebates by Aug. 1 for any premiums collected in the previous year if less than 80 percent of those premiums were paid to healthcare providers. This applies to individual plans and small employer groups. Eighty-five percent of insurance premium dollars must be paid for large employer groups.

Nationally, $1.1 billion will be distributed to 12 million Americans. Cigna Healthcare, which has a major processing center in Chattanooga, said 7 to 8 percent of its customers will receive rebates this year.

More Articles on Health Insurance:
Massachusetts Health Insurance Companies Seize Opportunity to Expand Business

Survey: 46.3 Million Americans Without Health Insurance

Consumer-Directed US Health Insurance Gains Traction




Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Featured Whitepapers

Featured Podcast