Exton Region Chamber of Commerce

IBC Announces Group Premium Deferred Payments

April 9, 2020
Written by: Tate Design

USI My Benefit Advisor is in receipt of information from Independence Blue Cross identifying necessary steps for Employer Group Premium Deferred Payments for the month of April or May, 2020.

Please review the following guidelines for deferment. If you have any questions regarding the process, please contact My Benefit Advisor a 855-874-0128

Instructions for Deferred Payment Plan for Customers with Fewer than 500 Employees

While IBC & My Benefit Advisor encourage all customers who are able to pay their premiums on time to continue to do so, we understand the toll the COVID‑19 crisis is taking on many businesses. We want to help our mutual customers and prospects in need with the opportunity to take advantage of a Deferred Payment Plan for April or May premium payments.

To be eligible, customers must be:

  • Fully insured, with fewer than 500 enrolled employees;
  • In good standing  – paid through March to defer April payment or paid through April to defer May payment;
  • Experiencing an extreme hardship such as undergoing a significant reduction in business operations or suffering a substantial revenue loss due to the COVID‑19 pandemic.
  • A signed Payment Agreement is required. This document should not be returned directly to Independence Blue Cross. My Benefit Advisor customers should fax their agreement to 610-537-4911. If you are not yet a valued client please call Jim Pitts at 610-537-1377.

Submission Deadlines

April 17 – Deadline for submitting customers deferring April premium payment

May 15 – Deadline for submitting customers deferring May premium payment

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Please be advised that My Benefit Advisor cannot provide legal or tax advice and any information contained herein does not constitute such advice. The preceding guidance is for informational purposes only, any specific advice should be discussed with your own counsel.

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