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BLUECROSS BLUESHIELD OF TENNESSEE ANNOUNCES $67 MILLION PREMIUM PAYBACK - Great Opportunity for Employers to Use the Savings to Keep Key Executives Happy with 10-Pay LTCI Plans!

CHATTANOOGA, Tenn. - BlueCross BlueShield of Tennessee today announced plans to distribute a projected $67 million of paid premiums for 2003 to fully insured groups and individual health care policyholders.

Analysis of the company's current health care costs indicates a lower than predicted increase in annual medical claims costs. The resulting unused premiums have prompted BlueCross to give its customers a year-end premium payback.

The company plans to provide customers with a reimbursement for a percentage of premiums paid during the 2003 calendar year. Customers who were with BlueCross for as little as one month in 2003 will receive a portion of their premiums back, beginning in December. This applies to both those who enrolled or cancelled with the company during 2003. Those affected by the payback include fully insured group customers, which consist of employer groups and organizations that pay premiums to BlueCross, and individual subscribers not part of a group account, including Medicare supplement policyholders. Similar to a mutual company returning surplus funds to its customers, or a publicly traded company paying dividends to its shareholders, BlueCross is returning the surplus to its customers. More details on the premium payback can be found on the BlueCross Web site at www.bcbst.com under the "Premium Payback" link or in the online News Center

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