Blue Shield of California has shared multiple updates across their various lines of business at Blue Shield of California.
First, they introduced a new tool for their commercial members, the Price Check My Rx tool, which provides real-time information on medication costs, potential savings, and allows for price comparison between different pharmacies. This tool has been successful among their medicare members and they hope to provide similar benefits to their commercial members.
Security is one of Blue Shield's main concerns and to enhance it, they are implementing multi-factor authentication protocols to all their online portals. This will provide an extra layer of security, protecting against unauthorized access, phishing, and data breaches while complying with HIPPA and PHI requirements.
For Blue Shield brokers, they are pleased to announce that the Q4 2023 rate book is now available with a statewide average rate action of 1.4%. The Employer Enrollment Tool provides a streamlined experience for all Q4 enrollments, and more details can be found on the Broker Connection.
Blue Shield reminds their Small Business groups that they can receive a 10% specialty discount through their Bundled Savings program. They are also relaxing their underwriting participation requirements to just 25% for groups with five or more enrolled employees, applicable to medical, dental, vision, and life insurance plans through the end of 2023.
They continue to provide a variety of resources to their trusted advisors through the new Small Business Contact Sales & Support page on Broker Connection, along with support from their dedicated team.
Lastly, Blue Shield reiterates the introduction of their Prescription Savings Program which was started earlier this year. The SMS text-based program offers discounts on select medications, improving prescription drug affordability and medication adherence for their commercial plan members.
Click here for the full Blue Shield of California July newsletter to brokers.