Amid Pandemic, UnitedHealth Group Offers $1.5 Billion In Premium Credits To Enrollees

UnitedHealth Group is providing rebates and credits the company says are worth $1.5 billion to health plan members impacted by the Coronavirus strain COVID-19.

The effort means individuals and employers in UnitedHealth’s UnitedHealthcare brand “fully insured benefits” could get “credits ranging from 5% to 20% depending upon the specific plan will be applied to premium billings received by customers in June.”

The effort isn’t likely to hurt UnitedHealth Group financially. The insurer continues to report record earnings and revenues in its businesses, which include the Optum health services unit. In some cases, UnitedHealth insurers will be getting discounts to see doctors and medical care providers under the Optum umbrella.

Health insurers are rolling out a parade of benefits for patients sickened by COVID-19 from eliminating cost-sharing like co-payments and deductibles to providing free access to telehealth. UnitedHealth Group, which is the nation’s largest health insurer,  however, has been among the few to tally it up and put a dollar figure on it.

“Our actions today are a continuation of our commitment to act swiftly to support the people, and customers we are privileged to serve and those working courageously on the front line of this pandemic,” United Health Group CEO David Wichmann said in a statement.