Why did my health insurance send me a check and what should I do with it?

Overpayment Refund: Health insurers may send you a check as a refund if you've overpaid your premiums, either due to a change in your plan or income level.

Claim Reimbursement: The check could be a reimbursement for a medical claim that was partially or fully covered by your insurance after you paid out-of-pocket.

Medical Loss Ratio Rebate: The Affordable Care Act requires insurers to spend a minimum percentage of premiums on medical care.

If they don't, they must issue rebates to policyholders.

Negotiated Refund: If your insurer negotiates a refund from a healthcare provider for an overcharged service, they may pass that refund on to you.

Cancelled Policy Refund: When you cancel a health insurance policy, the insurer must refund any unused premium payments.

Coordination of Benefits: If you have multiple insurance plans, your insurers may send you a check to reconcile overlapping coverage.

Uncashed Provider Checks: Insurers may send you a check if they issued a payment to a provider that was never cashed.

Mistaken Overpayment: Insurers may accidentally overpay a claim and send you a check to recoup the excess.

Fraud Investigations: Checks may be issued as part of a fraud investigation resolution between you and the insurer.

Closed Account Refunds: If your insurer has an outdated bank account on file, they may send you a check instead of a direct deposit.

Audit Adjustments: Periodic audits of your account may result in the insurer sending you a check for an identified underpayment.

Benefit Changes: If your plan benefits change mid-year, you may receive a check for the difference in your premiums.

Network Changes: If your provider leaves your insurance network, you may get a check for the difference in out-of-network costs.

Retroactive Eligibility: If your insurance coverage is approved retroactively, you may receive a check for past medical expenses.

Employer Plan Changes: When an employer switches health plans, the previous insurer may send checks to reconcile outstanding claims.

Insolvency Refunds: If an insurer goes out of business, they may send checks to policyholders to return unused premium payments.

Calculation Errors: Miscalculations in your plan's deductible, copay, or coinsurance may result in a refund check.

Terminated Coverage: If your coverage is terminated, your insurer must return any unused premium payments.

Dependent Removal: When a dependent is removed from your plan, the insurer may send a check for the difference in premiums.

Policy Cancellation: If you cancel your health insurance policy, you may receive a check for the unused portion of your premium.