Employers will receive premium rebates; cost sharing waived for individual consumer clients
To help ease some of the financial strain COVID-19 has caused to employers and individuals in our communities, Security Health Plan is issuing premium rebates to its fully insured employer clients and waiving cost sharing for its individual consumer clients. These efforts are in response to the historic reductions in people seeking medical care in April and May due to the COVID pandemic.
Large and small fully insured employers will receive premium rebates
Security Health Plan will refund 10% of April premium and 5% of May premium to fully insured employer customers.
Security Health Plan will waive cost sharing for Medicare Advantage and Affordable Care Act Individual and Family Plan office visits
Security Health Plan will waive cost sharing (deductibles, coinsurance and copayments) for primary and specialty office visits (including telehealth visits) for Individual and Family Plan and Medicare Advantage members beginning August 1 and continuing through the end of the year.
These efforts amount to approximately $8 million in financial relief for our employer and consumer customers. In addition to these rebates, in April Marshfield Clinic Health System and Security Health Plan gave $400,000 in grants to more than 70 organizations in our service area to help respond to the COVID crisis.
“Our customers entrust their premium dollars to us to pay for health care services on their behalf. Our mission includes a charge to help consumers and communities reach their best health by ensuring access to affordable and high quality health insurance. Because of our mission and responsibility to our customers and communities, we believe this is the right thing to do,” said Security Health Plan Chief Executive Officer Julie Brussow.
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Security Health Plan of Wisconsin, Inc., part of the Marshfield Clinic Health System, is helping its 205,000 members in Wisconsin and beyond reach their best health. Accredited by the National Committee for Quality Assurance (NCQA), Security Health Plan offers health insurance coverage for employees of large and small businesses, individuals and families. It also provides full-service third party administration for self-funded employee benefit plans through Security Administrative Services.