Aetna to Leave the California Individual and Family Market
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Dennis Jarvis
Jun 23, 2013, 5:22:38 PM6/23/13
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Article Title: Aetna to Leave the California Individual and Family Market
Author: Dennis Jarvis
Word Count: 565
Article URL: http://www.isnare.com/?aid=1846681&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1846681
Easy Publish Tool: http://www.isnare.com/html.php?aid=1846681
*********************** ARTICLE START ***********************
We wrote last week on the California Health Exchange's list of participating carriers for the individual market and there were some notable exceptions. One of those carriers, Aetna of California, officially notified the public and their current individual membership that they will no longer participate in the Individual market in California. Let's take a closer look at their statement and what it means for their members and California individuals and families.
The official statement from Aetna
We'll boil down the key points of their statement. Starting July 1st, Aetna will no longer offer their Advantage plans for individuals, families, and self-employed Californians. Applications which request effective dates Aug 1st or after will be closed at this time. Any application that is still in process as of June 24th, 2013 (no matter what effective date is requested) will also be closed. This means that applications finalized before June 24th with a requested effective date prior to August 1st will likely be extended coverage (if approved) but only temporarily as we'll see in the next paragraph.
Effect on existing Aetna IFP members
All existing Aetna IFP members including the recent additions mentioned above will be allowed to remain on their policy till Dec 31st, 2013 after which, their coverage will end. This times exactly with the start of the Health Exchange plans on the market Jan 1st 2014 which are guaranteed issue (no qualification is required based on health). A member can cancel their coverage between now and Dec 31st, 2013 by contacting member services (number on back of ID card). We'll have the new rates and benefits available October 1st for Exchange and non-Exchange plans available from all the major carriers for Jan 1st effective dates. We'll notify via our Facebook feed when the new rates are available. The cancellation of coverage and participation of the market described above does not apply to Aetna's California Group health insurance or Medicare offerings. So that's the official newsfeed...what's our take on it?
Our take on Aetna's notification
Ultimately, Aetna's market share for the California IFP market was slightly greater than 5% so they're not a huge player in the market but they are one of the big, nationwide health insurance carriers which is unsettling. Their are four major carriers participating in the California Exchange (Anthem Blue Cross, Blue Shield of California, Kaiser, and Health Net) plus many regional players. We've been around the health insurance market long enough to also remember what big fans Aetna's leadership was about Health Reform only to have them not participate in the largest marketplace (California) which is disconcerting. The other issue is that anyone with a Grandfathered Status will lose that protection which can mean very large increases in premium if they don't qualify for health subsidies. There's a chance that Aetna will wait out the first year to see how it all settles down but a cynic might also say they want to avoid the more high risk applicants that will flock to the program Jan 1st, 2014 at initial enrollment. Time will tell.
If you are an Aetna member
You can quickly quote all the major carriers available on the California market through our Quote page and starting October 1st, the new rates will be available from all major carriers. We're happy to walk through the options with you.
About The Author: Dennis Jarvis is a licensed California health insurance agent with extensive knowledge of the Individual and Small Group California health insurance market. http://www.calhealth.net
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1846681
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Dennis Jarvis
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1846681
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1846681
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Aetna to Leave the California Individual and Family Market
Author: Dennis Jarvis
Word Count: 565
Article URL: http://www.isnare.com/?aid=1846681&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1846681
Easy Publish Tool: http://www.isnare.com/html.php?aid=1846681
*********************** ARTICLE START ***********************
We wrote last week on the California Health Exchange's list of participating carriers for the individual market and there were some notable exceptions. One of those carriers, Aetna of California, officially notified the public and their current individual membership that they will no longer participate in the Individual market in California. Let's take a closer look at their statement and what it means for their members and California individuals and families.
The official statement from Aetna
We'll boil down the key points of their statement. Starting July 1st, Aetna will no longer offer their Advantage plans for individuals, families, and self-employed Californians. Applications which request effective dates Aug 1st or after will be closed at this time. Any application that is still in process as of June 24th, 2013 (no matter what effective date is requested) will also be closed. This means that applications finalized before June 24th with a requested effective date prior to August 1st will likely be extended coverage (if approved) but only temporarily as we'll see in the next paragraph.
Effect on existing Aetna IFP members
All existing Aetna IFP members including the recent additions mentioned above will be allowed to remain on their policy till Dec 31st, 2013 after which, their coverage will end. This times exactly with the start of the Health Exchange plans on the market Jan 1st 2014 which are guaranteed issue (no qualification is required based on health). A member can cancel their coverage between now and Dec 31st, 2013 by contacting member services (number on back of ID card). We'll have the new rates and benefits available October 1st for Exchange and non-Exchange plans available from all the major carriers for Jan 1st effective dates. We'll notify via our Facebook feed when the new rates are available. The cancellation of coverage and participation of the market described above does not apply to Aetna's California Group health insurance or Medicare offerings. So that's the official newsfeed...what's our take on it?
Our take on Aetna's notification
Ultimately, Aetna's market share for the California IFP market was slightly greater than 5% so they're not a huge player in the market but they are one of the big, nationwide health insurance carriers which is unsettling. Their are four major carriers participating in the California Exchange (Anthem Blue Cross, Blue Shield of California, Kaiser, and Health Net) plus many regional players. We've been around the health insurance market long enough to also remember what big fans Aetna's leadership was about Health Reform only to have them not participate in the largest marketplace (California) which is disconcerting. The other issue is that anyone with a Grandfathered Status will lose that protection which can mean very large increases in premium if they don't qualify for health subsidies. There's a chance that Aetna will wait out the first year to see how it all settles down but a cynic might also say they want to avoid the more high risk applicants that will flock to the program Jan 1st, 2014 at initial enrollment. Time will tell.
If you are an Aetna member
You can quickly quote all the major carriers available on the California market through our Quote page and starting October 1st, the new rates will be available from all major carriers. We're happy to walk through the options with you.
About The Author: Dennis Jarvis is a licensed California health insurance agent with extensive knowledge of the Individual and Small Group California health insurance market. http://www.calhealth.net
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1846681
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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