First Blue plan nationally to extend opportunity to enroll in program
Philadelphia – May 18, 2016 – Independence Blue Cross (Independence) is now offering the College Tuition Benefit ® to businesses to make it easier for their employees with Independence health care coverage to pay for an eligible family member’s college education. Independence is the only health insurance carrier in Pennsylvania and the first Blue plan nationally to extend this unique opportunity to its customers.
In the College Tuition Benefit program, Tuition Rewards® can accumulate — at no cost to the employee — and be used to pay for up to a year’s worth of undergraduate tuition at one of more than 350 private colleges and universities nationwide, with 80 percent ranked among “America’s Best” by U.S. News & World Report in 2014. Each Tuition Rewards point equals a savings of one dollar toward the cost of tuition.
“At Independence Blue Cross, we know our customers choose us for the security and stability that comes with our health insurance because it helps attract and retain quality employees,” said Paula Sunshine, senior vice president and chief marketing executive at Independence. “As an industry leader bringing new ideas and products to market, we are excited to offer the College Tuition Benefit as another tool to help strengthen the commitment between employers and their employees. And we are proud to offer the program as an additional benefit to our own associates.”
The College Tuition Benefit program spans 46 states with more than 50 schools located in Pennsylvania — eight of those schools are located in the Philadelphia region, including Cabrini College, Chestnut Hill College, Drexel University, Immaculata College, LaSalle University, Moravian College, Rosemont College, and Widener University.
Once enrolled in an Independence plan through a participating employer, employees can opt-in to the College Tuition Benefit and register children, stepchildren, grandchildren, or nieces and nephews in the program. There is no limit to the number of students an employee can enroll, and there is no limit to the number of Tuition Rewards points that can be accrued. There is no charge to the employee for participating or using the credits because the credits themselves are funded through the colleges who participate. Employees earn 2,500 Tuition Rewards points upon registration and accumulate an additional 2,000 points annually – simply by opting into the program.
There is no cost for Independence customer groups to participate in the program for one year beginning in 2016. Any self-funded Independence customer can opt-in to the College Tuition Benefit program upon renewal of their medical benefits.