Students who purchased ISHIP health insurance coverage at the UW during the 2020 calendar year, whether for just one quarter or for the entire year will receive a letter and rebate check from LifeWise sometime in the next month, assuming that LifeWise has your current address on file.
The laws and regulations which govern insurance companies such as LifeWise require that they meet specific medical loss-ratio (MLR) rules or otherwise they must refund excess premiums back to their customers. This MLR rule requires that the insurer spends a minimum of 80% of premiums they receive on health care services, such as doctor and hospital bills, and no more than 20% on administrative costs.
2020 was a very unique year in many ways due to the COVID-19 outbreak. One effect was a significant reduction in the utilization of healthcare over several months when much of the world was effectively shut down. As a result of this, LifeWise only spent 72.5% of premiums on healthcare and must return (or rebate) the remaining 7.5%. This is why you will be receiving a check, so long as you paid any ISHIP premiums in 2020. Most of the checks will be relatively small, with the vast majority under $100.00.
The checks will be sent by LifeWise to the student addresses which they have in their system. If you need to update your address, to ensure you receive your rebate check, please contact LifeWise toll-free at 800-971-1491 Monday through Friday, 5:00 am to 8:00 pm (Pacific Time).