Credits ranging from 18% to 54% of one month’s premium will appear on December bills as Blue Shield of California fulfills its pledge to limit its net income to 2% of revenue. Blue Shield is giving back the amount collected above 2% to customers and the community. Starting this week, letters will be mailed to subscribers and group customers who are eligible to get a credit. Their December bill will reflect the credit based on their dues/premiums from August 2011. The company will give premium credits back to individual and fully insured group customers based on a percentage of one month’s dues/premium from August 2011:
■Individual and family plan customers will get a credit of 54% of one month’s dues/premium.
Fully insured groups will get a credit of 54% of one month’s dues/premium.
■Groups with shared risk agreements will get a credit of 18% of one month’s dues/premium.
■Customers with fully insured continuous coverage from August 1 through at least December 1, 2011 will get a credit in the bill for their December 2011 dues/premiums (other than government programs whose contracts do not permit such credits) .
The average individual customer will be credited approximately $135 and an average family of four will be credited approximately $420. The range is roughly $40 to $270 for individuals and $220 to $700 for a family of four.
For all fully insured mid/large group customers (51 employees and above), the average credit to the group will be $195 to $230 per member. Employers who pay part of the premium must decide whether and how to apportion it. For small groups (two to 50 employees), the averages are $220 for one employee and approximately $605 for a family of four.
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