UnitedHealth's $1.5bn spending plan includes premium credits

UnitedHealth's $1.5bn spending plan includes premium credits | Insurance Business

UnitedHealth

Health insurer UnitedHealth Group has announced that it plans to spend $1.5 billion on customers, in part by issuing credits against commercial health insurance premiums in June. The insurer is making the move due to the COVID-19 pandemic, according to a Reuters report.

UnitedHealth said the credits would range from 5% to 20% of June monthly premiums to commercial fully insured employer-based and individual customers, Reuters reported. The insurer will also waive cost-sharing for specialist and primary physician benefits in Medicare Advantage.

UnitedHealth has 8.2 million members in plans offered through employers and in individual plans created by the Affordable Care Act, Reuters reported.