Blue Cross and Blue Shield of Illinois Issuing $108M In Premium Relief as Continuing Support to Members, Customers and Communities during COVID-19
CHICAGO, Oct. 6, 2020 /PRNewswire/ -- Blue Cross and Blue Shield of Illinois (BCBSIL) announced today that it will take further action to support its members, customers, and communities during the COVID-19 public health emergency by providing approximately $108 million in relief to fully insured employer customers in the form of a premium credit.
Eligible customers will see the premium credits reflected in their November statement under a line item called COVID Relief Premium Credit.
The premium credits are the latest relief action taken by BCBSIL, totaling nearly $400 million, in response to the global health crisis. The purpose of these actions is to lessen the financial hardships many may be experiencing. These include:
- Adjustments made to initial 2021 individual and group rates to provide further financial relief for group plans, individuals, and their families — delivering more than $135 million in savings.
- Extensions of the waivers of cost sharing for telehealth services, COVID-19 testing and treatment — delivering approximately $155 million in savings for members and their families.
"The global health pandemic has clearly sparked unforeseen economic challenges and we believe providing additional support and financial relief to our members and customers is the right thing to do," said Steve Hamman, president of Blue Cross and Blue Shield of Illinois. "Through it all isn't just an advertising slogan – it's a part of our commitment to providing our members with access to affordable, quality care when they need it most."
In addition to these actions in response to the COVID-19 public health emergency, Blue Cross and Blue Shield of Illinois recently issued rebates totaling nearly $105 million to individuals and small groups this fall who were eligible under the MLR rebate consumer protection process under the Affordable Care Act relating to their 2019 coverage.
There continues to be uncertainty concerning health care spending and the impact of deferred care for the remainder of the year. The company will continue to closely monitor the evolving health pandemic and health care claim trends to determine how best to support customers, communities, and health care delivery partners. The premium credit and other relief actions are intended to continue to assist members and customers, to help expand access to care, and to offer members some relief during this difficult time.
For the latest information on BCBSIL's response to the COVID-19 pandemic and other information and tips to stay healthy, please visit BCBSIL.com.
About Blue Cross and Blue Shield of Illinois
Blue Cross and Blue Shield of Illinois (BCBSIL) is committed to expanding access to quality, cost-effective health care to as many people as possible in Illinois. BCBSIL is dedicated to innovation and exploring, nurturing, and activating future possibilities to make the health care system work better for our members and our communities. BCBSIL is a division of Health Care Service Corporation, a Mutual Legal Reserve Company and an Independent Licensee of the Blue Cross and Blue Shield Association. Learn more at www.bcbsil.com, www.facebook.com/bluecrossblueshieldofillinois and www.twitter.com/bcbsil
SOURCE Blue Cross and Blue Shield of Illinois
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