January 4, 2018
In December, Premera announced a one-time only $25 million reimbursement to the Alaska Reinsurance Program, a state-operated program that covers claims in the individual market for people with high cost conditions, helping to reduce premium costs for all customers in the state's health exchange.
In Premera's press release, Jim Grazko, President and General Manager of Premera's Alaska office, explained why we offered to reimburse the state's reinsurance program:
“We believe offering to make a one-time reimbursement to the Alaska Reinsurance Program was the right thing to do, given that our claims this year were much lower than we or the state anticipated.
This reimbursement underscores our continued commitment to Alaska's individual insurance market, especially to those individuals who are most in need of care, and reinforces our efforts to work with the state to provide all Alaskans with access to high-quality care at an affordable price."