StayWell to issue 2011 rebates to NMI government employees

StayWell Insurance is rebating $3.8 million to employer groups in Guam and $292,000 to CNMI government employees for policy year 2011.

This is nothing new to StayWell-it has refunded approximately $35 million in refunds to members since 1982.

“The refunds and rebates are a direct result of StayWell’s quality initiatives, excellent case management, and members being proactive about their health and wellness,” said StayWell president, Francis E. Santos.

StayWell’s unmatched experience and its ability to manage benefits result in a win-win situation for the employers and employees.

StayWell group segments include large groups, small groups, and individuals. Group segments with 1,000 or more lives are determined to be “credible.” The StayWell Guam large and small group segments along with the StayWell CNMI individual (CNMI government) qualified as credible groups.

Under the Affordable Care Act, insurance companies with credible group segments must comply with the Medical Loss Ratio regulation as codified in 45 CFR Part 158. The figure below illustrates the MLR formula under ACA:

ACA MLR= Health Care Claims + Quality Improvement Expenses
Premiums- Taxes& Licensing & Regulatory Fees

For Guam, StayWell will distribute the large and small groups a rebate check before Aug. 1, 2012. Each company will then be responsible to determine the distribution method of the rebates. The company may reduce the premiums for the upcoming year or distribute the rebates to the StayWell subscribers.

The StayWell CNMI government subscribers will also be receiving rebates. The checks will be distributed to each policyholder at the StayWell Saipan office today, July 26, and Friday, July 27.

StayWell Insurance was founded in 1982 and primarily offered health insurance to the Government of Guam. It later expanded to offering health insurance to private businesses in Guam and the CNMI. After 25 years of service, StayWell has established offering other lines of insurance to include both Home and Auto Insurance.

For more information about StayWell Guam rebates, contact (671) 477-5091 and for more information about StayWell Saipan rebates, contact (670) 323-4260/61. (StayWell)

StayWell to issue 2011 rebates to NMI government employees