Health insurance refunds received by Vermont businesses

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Health insurance refunds received by Vermont businesses

Thu, 08/11/2022 - 10:01am -- tim

Vermont Business Magazine Business Resource Services (BRS) announced today that over two thirds of companies covered by Blue Cross and Blue Shield of Vermont’s Blue Edge Business (BEB) health plans have earned money back on their 2021 premiums.

“BEB plans continue to work, as designed, to help small businesses,” remarked Mitch Fleischer, President of BRS. “The best evidence of success is this fact that 70% of BEB groups will receive an average refund of $1,500 per employee on their 2021 claims experience this year. For many businesses this will be the second year of refunds. And the remaining groups that won’t receive a refund still enjoyed some of the lowest premiums available.”

Fleischer also commented on the relevance of BEB plans given the Green Mountain Care Board’s recent approval of double-digit rate increases on Exchange plan premiums. “Now more than ever, it’s important for eligible businesses to consider whether these plans could work for them.”

Blue Edge Business health plans are available to Vermont businesses with as few as 5 enrolled employees. These plans, available only through BRS, allow companies to access a health insurance product that provides the potential for a business with good claims experience to share in that success. BRS is currently accepting applications for BEB coverage effective January 1, 2023.

BRS has been providing business solutions to members for over 30 years. More information about Blue Edge Business health plans can be found at www.brsvt.com/blue-edge-business/

8.11.2022. South Burlington, VT: Business Resource Services