FAIRBANKS, Alaska (AP) - Alaska's lone individual insurance carrier has reached an agreement with the state Division of Insurance to make a one-time $25 million reimbursement.
The Fairbanks Daily News-Miner reports that Premera Blue Cross Blue Shield of Alaska announced on Friday that its reimbursement will go toward funding high-cost health insurance claims through the Alaska Reinsurance Program.
The state-operated reinsurance program aims to stabilize customers' premiums by covering claims in the individual health care market for those with one or more of the 33 previously identified higher-cost conditions.
Premera said it offered to make the reimbursement after finding that health insurance claims filed by Alaska customers during 2017 were nearing the lowest in a decade.
The agreement calls for Premera's funds to be used "solely for health insurance claims in the individual market."