Carriers Offering Premium Credits

Recently member’s access to planned or routine care has been postponed due to the COVID-19 pandemic.  With this considered, and to provide financial relief and assistance to employers and their employees, the following carriers have begun issuing premium credits.

Anthem Blue Cross

  • Fully insured small group medical plans:  15% premium credit
  • Fully insured large group medical plans:  10% premium credit
  • Fully insured dental plans:  50% premium credit

Premium credits are expected to appear on the employer’s August 2020 monthly billing invoice and are based on their April 2020 invoice.  Brokers have been notified by email with a letter and email being sent to the employer group. Commissions may be affected by the credits, although Anthem is working to try and not have the credit affect commissions.

UnitedHealthcare

  • Fully insured small group medical plans:  10% premium credit
  • Fully insured dental plans:  50% premium credit

July billing invoices will include notification of details for the amount of premium credit the employer group will receive.  Commissions will be affected by premium credit.

Guardian

  • Fully insured dental/vision plans:  Guardian offering one month premium credit or two year rate guarantee.

Click Guardian Pandemic Support Program flyer for more details.  Premium credits will affect commissions.

MetLife

  • Fully insured dental PPO plans:  25% premium credit (April and May)

Premium credit to appear on future billing invoice.  MetLife issued communication regarding this in April.  Premium credits will affect commissions.

Principal

  • Fully insured dental plans:  10% premium credit

This premium credit will apply to June through October 2020 and will be based on their billed premium for prior month.  Principal issued notification groups on May 7, 2020, via email.  Credits will affect broker commissions, however, Principal will “true up” broker compensation with bonuses on future commission statements.

These premium credits are different than ACA MLR Premium Rebates.  As long as done so in a non-discriminatory manner, employers can decide how to allocate to their bill.

Contact your RBG representative with any questions!