GRAND RAPIDS, Mich. — Some Michiganders could be a seeing a discount on their health insurance costs in the coming months.
Priority Health, which has nearly one million members in the state, has announced plans to credit and waive costs for most of them.
MyPriority Individual plan members and small businesses will get a 15% premium credit for June and July 2020.
Priority Health will also waive co-pays and deductibles for all Medicare Advantage members for in-person and telehealth primary care services through the end of the year.
The company says they are able to give back because they are seeing less claims overall due to the pandemic.
“We're super excited because we know that a lot of people need help right now during this COVID-19 pandemic. We like other health plans are experiencing a decline in the number of people that are seeking scheduled or elective procedures,” Priority Health CEO Joan Budden said.
“We're able to have lower use. We're having fewer claims and therefore, we wanted to be able to give the some of that money back immediately to those people most in need of some assistance right now,” she added.
The company also says large employers will also have an opportunity for premium credits in the fourth quarter, when the total amount of excess revenue available can be determined.