Rebates are result of risk corridor payments from federal government as part of case settlement
NASHVILLE — The Tennessee Department of Commerce & Insurance (TDCI) is alerting BlueCross BlueShield of Tennessee (BCBST) individual policy holders and customers who purchased healthcare coverage in 2018 through the Federally Facilitated Marketplace (FFM) that they will receive rebate checks from BCBST starting in May 2021.
The disbursement of payments comes after an April 2020 ruling by the U.S. Supreme Court that the U.S. Department of Health and Human Services (HHS) failed to make full Affordable Care Act risk corridor program payments to carriers like BCBST and others.
As a result, approximately 100,000 BCBST individual policyholders who had coverage in 2018 will receive an additional rebate averaging $250, though specific amounts will vary. Rebate payments will be mailed by May 30, 2021. Insurance carrier Cigna previously issued rebate checks to its customers in January 2021.
Consumers should remember that these payments are only for Tennesseans who purchased medical coverage in the individual market in 2018 either directly or through healthcare.gov and not for those consumers who receive their BCBST insurance coverage through other means such as their employer.
As the checks begin arriving, Tennesseans should be cautious if they are approached about their rebate check by someone they do not know. TDCI reminds consumers to be wary of scam artists who may want to perpetrate a scam at the expense of consumers who may be receiving a rebate check. To help protect consumers, TDCI reminds consumers of these tips:
- The rebate checks are valid and should be deposited by the policyholder. Do not believe anyone who might say otherwise.
- Do not give your check or any of your personal or financial information to someone who contacts you and whom you do not know.
- If someone tries to steal your rebate check or claim it as their own, report it to your local police or law enforcement agency immediately.
Consumers who have questions about their insurance policies or if they believe they need to file a complaint about an insurance company or an agent should contact our Consumer Insurance Services team at 615-741-2218 or 1-800-342-4029. Complaints can be filed online here.
Consumers who have questions about their rebate checks should contact BCBST directly at 1-888-747-8957 (8 a.m. to 6 p.m. EDT Monday through Friday).
About the Tennessee Department of Commerce & Insurance: Fostering fair marketplaces, public safety, and consumer education that promote the success of individuals and businesses while serving as innovative leaders. Our divisions include the State Fire Marshal’s Office, Insurance, Securities, Regulatory Boards, Tennessee Law Enforcement Training Academy, Tennessee Emergency Communications Board and TennCare Oversight.