Blue Cross Blue Shield returning $101M in premiums to Mass. members
Photo | Courtesy of Blue Cross Blue Shield
The Boston offices of Blue Cross Blue Shield of Massachusetts
Blue Cross Blue Shield of Massachusetts, the state's largest private health insurance provider, said Wednesday it will return $101 million in premium refunds and anticipated rebates to its members because of lower-than-expected healthcare costs during the coronavirus pandemic.
Blue Cross Blue Shield, which has 2.8 million members, said the savings came in part from elective procedures and routine visits that have been deferred during the pandemic. The credits will be applied in September for most members, and for Medicare Advantage members, they'll receive a month of coverage without charge.
The Boston-based insurer has previously said it was investing $116 million to support members, clinical partners and communities during the pandemic. It has also covered most medically necessary services through phone or virtual technology free to members, and waived co-pays and deductibles for medically necessary coronavirus testing, counseling and treatment in-person.
Blue Cross has instituted new mental healthcare initiatives, including expanding the number of child psychiatrists available to members, adding telehealth options and giving greater access to an online program to manage anxiety and stress. In another effort, Blue Cross redeployed more than 100 employees as contact tracers for the state's COVID-19 Community Tracing Collaborative.
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