Today, we received the update below from Blue Cross Blue Shield of South Carolina regarding Medical Loss Ratio Rebates for members with Individual health insurance policies:
BCBS-SC Medical Loss Ratio (MLR) Rebates
Under the Patient Protection and Affordable Care Act (PPACA), BlueCross BlueShield of South Carolina is required to report our MLR to state and federal agencies annually. If we do not meet certain targets, we must issue rebates to individual members.
BlueCross will issue MLR rebates to members who had individual policies with us any time in 2014. This includes individuals who purchased qualified health plans under the PPACA from the federal Exchange or directly from us. It also includes individuals who have non-PPACA (grandfathered and non-grandfathered) plans.
BlueCross Blueshield of SC will mail rebate checks and letters to members on September 18.
Get additional information about the rebates.