Supernova's Journal - Blue Cross to refund $155M under health reform law

Source: WRAL.Com

RALEIGH, N.C. — Blue Cross Blue Shield of North Carolina said Monday that it would refund $155.8 million to 215,000 policyholders because of the national health reform effort.

Brad Wilson, chief executive of Blue Cross, the state's largest insurer, said the refunds would be issued by the end of the year to people who had individual Blue Advantage or Blue Options HSA policies on March 23, the date when President Barack Obama signed the Patient Protection and Affordable Care Act of 2010 into law.

"This is not necessarily in response to any criticism. It's simply the right thing to do," Wilson said. "A new law was enacted, new rules are in force, change is in the air."

Refunds will be equivalent to a little less than two months of premiums, meaning the average policyholder who pays a $380 monthly premium would receive about $690 back, he said.

Read more: http://www.wral.com/news/local/story/83171... /

Average is $380/mo? I haven't seen that since at least 10 years ago.

But good news about the refund nonetheless.