Posted by Michael Wonder on 07 May 2020
UnitedHealth commits $1.5 billion for premium rebates and new cost-sharing waivers
7 May 2020 - Health insurers have seen an overall drop in medical costs due to COVID-19, which could result in record premium rebates for 2020, under the Affordable Care Act.
UnitedHealth Group announced Thursday it will provide $1.5 billion in direct financial relief for its customers in the form of premium rebates for consumers on individual and small group employer plans, and cost-sharing waivers for seniors on its Medicare Advantage plans.
The nation’s largest health insurer says employers and individual members enrolled in its UnitedHealthcare fully insured health plans will receive a 5% to 20% premium credit on their June billing statements. As of March 31, the company had 8.2 million members enrolled in those plans.
