Early Anniversary For California Group Health
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Dennis Jarvis
May 3, 2013, 4:30:09 AM5/3/13
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Article Title: Early Anniversary For California Group Health
Author: Dennis Jarvis
Word Count: 574
Article URL: http://www.isnare.com/?aid=1836409&ca=Medical+Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1836409
Easy Publish Tool: http://www.isnare.com/html.php?aid=1836409
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With health reform being rolled out in full force now, we're starting to see some interesting reactions in the market to it. It's akin to a game of chess where one moves, spawns a whole new list of potential moves from the other side and in this case, the other side would be small business owners and California health insurance carriers. The State department in charge of ACA (Affordable Care Act) implementation made the first move a few weeks back when the stated that existing members on individual or group plans will roll over to the new Exchange plans on their anniversary month. That was the first move and we have since received notifications from major carriers of their response. There's a way for California companies and maybe even individuals. Let's take a look at what your move might be.
So what is anniversary month?
For group health plans in California,anniversary month is the month in which the plan originally started. For example, if the original start date for the group plan (not an individual employee) was April 1st, April would be the anniversary month going forward. An actual employee's effective original effective date doesn't affect this. In this California, this is the month when company's can change coverage, add dependents, and make other changes for the company's health plan. So what does this anniversary month for California companies have to do with Health Reform?
The State piggybacks anniversary months for Health Reform roll over
Any new groups signing for group health benefits Jan 1st, 2014 or after will automatically have only the Exchange (or their non-Exchange counterpart) plans to choose from. What about existing groups and members? The new Exchange plans are expected to be more expensive although not as high as the individual/family market. It's actually a good move since having all existing group plans switching over Jan 1st would be a nightmare for the carriers, the Exchange, brokers, and companies. It's going to be tricky enough already! To wrap up, an existing group health plan will roll to one of the Health Reform plans on their anniversary date. This is where it gets interesting.
The first carrier notifies of early renewal
Everyone in the industry is expecting rates to go up at between 15-30% on the group health market in California mostly due to plan designs since we already have guaranteed issue, maternity, mental health parity, etc. The new plans will be richer and more expensive on average. One of the major carriers realized this and announced that they will allow existing group health plans to have an early renewal of 12/1/2013 regardless of when their standard month was. This will essentially allow those group plans to stay on their old plans (and more importantly, rates) until 12/1/2014 and avoid 11 months of higher rates. The carrier realized that if they did not do this, many those companies (at least those with savvy brokers) would simply switch to another carrier effective 12/1 and get the same result. Another major carrier has followed suit and you really can't be the last one standing so they will all likely do the same. It's being called the Health Reform Pump Fake or Health Insurance Pump Fake. If your group health agent hasn't explained this option to you, we're happy to help. Information is power and in this case, it's quite a bit money as well.
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=1836409
*********************** 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=1836409
- 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=1836409
- 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: Early Anniversary For California Group Health
Author: Dennis Jarvis
Word Count: 574
Article URL: http://www.isnare.com/?aid=1836409&ca=Medical+Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1836409
Easy Publish Tool: http://www.isnare.com/html.php?aid=1836409
*********************** ARTICLE START ***********************
With health reform being rolled out in full force now, we're starting to see some interesting reactions in the market to it. It's akin to a game of chess where one moves, spawns a whole new list of potential moves from the other side and in this case, the other side would be small business owners and California health insurance carriers. The State department in charge of ACA (Affordable Care Act) implementation made the first move a few weeks back when the stated that existing members on individual or group plans will roll over to the new Exchange plans on their anniversary month. That was the first move and we have since received notifications from major carriers of their response. There's a way for California companies and maybe even individuals. Let's take a look at what your move might be.
So what is anniversary month?
For group health plans in California,anniversary month is the month in which the plan originally started. For example, if the original start date for the group plan (not an individual employee) was April 1st, April would be the anniversary month going forward. An actual employee's effective original effective date doesn't affect this. In this California, this is the month when company's can change coverage, add dependents, and make other changes for the company's health plan. So what does this anniversary month for California companies have to do with Health Reform?
The State piggybacks anniversary months for Health Reform roll over
Any new groups signing for group health benefits Jan 1st, 2014 or after will automatically have only the Exchange (or their non-Exchange counterpart) plans to choose from. What about existing groups and members? The new Exchange plans are expected to be more expensive although not as high as the individual/family market. It's actually a good move since having all existing group plans switching over Jan 1st would be a nightmare for the carriers, the Exchange, brokers, and companies. It's going to be tricky enough already! To wrap up, an existing group health plan will roll to one of the Health Reform plans on their anniversary date. This is where it gets interesting.
The first carrier notifies of early renewal
Everyone in the industry is expecting rates to go up at between 15-30% on the group health market in California mostly due to plan designs since we already have guaranteed issue, maternity, mental health parity, etc. The new plans will be richer and more expensive on average. One of the major carriers realized this and announced that they will allow existing group health plans to have an early renewal of 12/1/2013 regardless of when their standard month was. This will essentially allow those group plans to stay on their old plans (and more importantly, rates) until 12/1/2014 and avoid 11 months of higher rates. The carrier realized that if they did not do this, many those companies (at least those with savvy brokers) would simply switch to another carrier effective 12/1 and get the same result. Another major carrier has followed suit and you really can't be the last one standing so they will all likely do the same. It's being called the Health Reform Pump Fake or Health Insurance Pump Fake. If your group health agent hasn't explained this option to you, we're happy to help. Information is power and in this case, it's quite a bit money as well.
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=1836409
*********************** 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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