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$17.2 Million in Dividend Checks Sent to New Jersey Small Group (2-50) Policyholders

Story Content Provided by UnitedHealthcare on 1/3/14

As required by New Jersey law, insurers with a calendar year medical loss ratio of less than 80 percent must pay a dividend to their small group policyholders in order to meet the minimum loss ratio requirement. On behalf of Oxford Health Plans (NJ), Inc. and pursuant to Rule N.J.A.C. 11:21-7A.5, we are hereby distributing dividends for the year ended Dec. 31, 2012 to Oxford Health Plans (NJ), Inc. small group policyholders. These dividends apply only to small group policies that were in effect during the calendar year 2012 and total approximately $17.2 million.

The refund amount per small group policyholder was determined by multiplying the earned premium from each policyholder's standard health benefits plan by the percentage resulting from dividing the total refund by the carrier's total small group net earned premium. Checks were mailed on Dec. 27, 2013 to the groups receiving a refund.

If you have any questions regarding this refund, please contact your Oxford sales representative.