StayWell distributing $3.5M in rebates this week - KUAM.com-KUAM News: On Air. Online. On Demand.

StayWell distributing $3.5M in rebates this week

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by Mindy Aguon

Guam - Staywell Insurance will be distributing $3.5 million in rebate checks to employer groups in Guam this week.  The rebates are a requirement under the Affordable Care Act for insurance companies that meet the Medical Loss Ratio. 

Staywell will distribute the large and small groups a rebate check before August 1 and each company will be responsible to determine the distribution method of the rebates.  It will be up to the companies to decide if they will reduce the premiums for the coming year or distribute the rebates to Staywell subscribers.

"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," expressed Staywell president, Francis E. Santos. 

The only other health insurer on the island that will be releasing rebate checks is Selectcare, which that will be releasing $11.8 million - $8 million of which will be going to the Government of Guam. 

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