PROVIDENCE – Blue Cross & Blue Shield of Rhode Island announced on Thursday that it will provide an additional $11 million in medical and dental premium relief to its commercial customers and members.
This follows $13.8 million in medical premium relief and 25% dental premium credit that the company announced in June.
Fully insured large group and small group customers and individuals who purchased insurance through BCBSRI or HealthSource RI will be qualified for this second wave of premium relief.
According to BCBSRI’s announcement, the company is offering the additional premium relief as the result of lower-than-expected health care costs during the coronavirus pandemic.
“Although the use of health care services appears to be returning to normal, pre-pandemic levels, we saw a significant financial impact through early summer as our members chose to defer elective procedures and routine doctor visits,” said BCBSRI CEO and President Kim Keck.
The relief will range from 10% to 30% for employers and members, with premium relief being provided for one month in the fourth quarter of 2020, depending on market segment. It is subject to the approval of the R.I. Office of the Health Insurance Commissioner.
The announcement also follows a number of actions that BCBSRI has taken since the pandemic hit Rhode Island, including temporarily expanding benefits across more Medicare Advantage plans, including $0 copays for additional health care providers and services and prescription drugs such as insulin and inhalers; extending coverage through the end of December for telehealth services for primary care, behavioral healthcare and specialists care with no member cost share; and waiving member copays and cost sharing for diagnostic testing related to COVID-19 consistent with guidelines by the U.S. Centers for Disease Control and Prevention.
“Recognizing that many employers and members continue to experience tremendous economic uncertainty, we believe that offering additional premium relief is a meaningful way to help them right now,” said Keck.
Alexa Gagosz is a PBN staff writer. Contact her at Gagosz@PBN.com
