Blue Cross refunds on the way
Posted November 30, 2010 3:47 p.m. EST
Updated December 22, 2010 2:47 p.m. EST
Raleigh, N.C. — Blue Cross Blue Shield of North Carolina mailed the first round of refunds Monday to more than 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.
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.
Refunds will be distributed in four batches, with all checks mailed by the end of next week, Wilson said.
Blue Cross has information about the refunds available online, or customers can call the refund information line at 877-784-2375.