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Employer News | May 29, 2012
Employer News | May 29, 2012

Excellus BlueCross BlueShield Looking for Owners of "Forgotten Funds"

Nearly 12,000 individuals and companies in New York state have forgotten about $1.25 million in checks issued by Excellus Health Plan, including by its dba, Excellus BlueCross BlueShield (BCBS). This isn’t money left in their pockets, but is in the form of unclaimed checks issued in 2008 to members and providers.

Every year, the state requires insurers like Excellus BCBS to make a list of unclaimed checks that are at least three years old. The names are then placed in advertisements in local papers in an attempt to find the people who have money to claim. If the property is not claimed by the end of August, the money is then turned over to the Comptroller of the State of New York.

“This is money that was paid for claims or refunded premiums. If the money remains unclaimed it will go to the state,” said Christopher C. Booth, president and chief operating officer. “It rightfully belongs to our members or providers and we want to make sure they have one more chance to claim it before it goes to the state.”

Most of the funds that have yet to be redeemed were allocated to Excellus BCBS members and providers. Checks may not have been cashed for a number of reasons. The member may have moved and not left a forwarding address, a member may have died, or the member simply forgot about the money.

A complete list of people and companies with checks to claim, with instructions on how to claim them, is available.

Please note that checks will not be mailed to claimants until after August 31.

 

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