General News
Published July 13, 2020
Premera is providing up to $25M premium relief through a one-time premium credit estimated to be up to 15%. All eligible groups will receive the same percentage credit. All active insured small and large group employers will be receiving an August 2020 premium bill. Bills have started to go out with this credit. For more information, check our FAQ.
What about individual plans?
Premera is working to accelerate nearly $40 million in rebates due to Alaska customers who purchased their insurance in the individual market due to a requirement under the Affordable Care Act.
Health insurance carriers participating in the Affordable Care Act are federally required to spend at least 80% of the premiums they collect on health care services, like paying doctors and hospital bills, and efforts to improve health care quality, like improving patient safety. When payers don’t spend at least 80%, it must return funds to individuals. Normally, customers would not see these rebates until late in the year. Premera has accelerated distribution of those rebates to this quarter.
This does not apply to Medicare coverage. For more information on premium relief, contact your Premera representative or visit our FAQ.