TULSA, Oklahoma, Oct. 6, 2020 - Blue Cross and Blue Shield of Oklahoma
(BCBSOK) announced today it will take further action to support itsmembers, customers, and communities during the COVID-19 public health emergency by providing approximately $20 million in relief to fullyinsured employer customers in the form of a premium credit. The company has worked with regulators to obtain necessary approvals.
The premium credits are the latest relief action from BCBSOK in responseto the global health crisis to help lessen the financial hardships manyOklahomans may be experiencing.
These include: Adjustments made to initial 2021 individual and group rates to providefurther financial relief for group plans, individuals, and their families ‹ delivering approximately $52 million in savings.
Extending the waivers of cost sharing for telehealth services as well as COVID-19 testing and treatment ‹ delivering approximately $34 million in savings for members and their families.
"Our absolute focus is on our members and the communities we serve, and providing additional support and financial relief is the right thing to do," said Joseph CunniNgham, M.D., president of Blue Cross and Blue Shield of Oklahoma. ³Our members trust us to be good stewards of their premium dollars and ensure they have access to affordable, highquality care. As part of our commitment, we are finding ways to help support both the physical and financial health of our members during this unprecedented public health emergency."
In addition to these actions in response to the COVID-19 crisis, BCBSOK recently issued rebates to individuals and small groups who were eligible under the MLR rebate consumer protection process under the Affordable Care Act relating to their 2019 coverage.
There continues to be uncertainty surrounding health care spending and the impact of deferred care for the remainder of the year. BCBSOK will continue to closely monitor the evolving health pandemic and health care claim trends to evaluate and determine how best to support customers, communities, and health care delivery partners. The premium credit and other relief actions are intended to continue to assist members and businesses across Oklahoma, to help expand access to care in the state, and to offer members some relief during this difficult time.
For the latest information on BCBSOK¹s response to the COVID-19 pandemic and other information and tips to stay healthy, please visit bcbsok.com.
About Blue Cross and Blue Shield of Oklahoma For 80 years, Blue Cross and Blue Shield of Oklahoma has been committed to meeting the health care financing needs of Oklahomans. As the state's oldest and largest private health insurer, Blue Cross and Blue Shield of Oklahoma provides health care benefit plans for more than 830,000
Oklahomans. For more information, visit bcbsok.com. Blue Cross and Blue Shield of Oklahoma is a Division of Health Care Service Corporation, a Mutual Legal Reserve Company, an Independent Licensee of the Blue Cross and Blue Shield Association. BCBSOK.com | Twitter.com/BCBSOK | Facebook.com/BlueCrossBlueShieldOfOklahoma | YouTube.com/BCBSOK