Health Net Announces July 2013 Rate Increase For Individual Family Plans
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Dennis Jarvis
May 19, 2013, 1:12:03 PM5/19/13
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Article Title: Health Net Announces July 2013 Rate Increase For Individual Family Plans
Author: Dennis Jarvis
Word Count: 594
Article URL: http://www.isnare.com/?aid=1840793&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1840793
Easy Publish Tool: http://www.isnare.com/html.php?aid=1840793
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We received notification of a Health Net of California July 1st rate increase for Individual and Family health plans. We had anticipated no rate increase based on communication from the carrier through the end of 2013 but this puts Health Net in line with both Cross and Shield which increased their rates early in the year. Let's take a look at what to expect and how to navigate the newest health insurance increase to the California market.
What type of increase are we looking at from Health Net?
The actual percentage of increase depends on your age, plan, and area. Members can expect an increase from 9-25% with an average of around 15%. The good news is that the original rates for their most popular plans like the Advantage $3500 or $6500 plans were so much lower than the other competing plans on the market, even with this high percentage increase, it will probably still be tough to beat their rates currently on the market. Keep in mind that most of these plans and rates will go away Jan 1st 2014 (or on your anniversary month) anyway but it's definitely a look at our future in terms of rates if you do not qualify for health subsidies.
What are your options if you are a Health Net member?
If you're an existing member, you can look to downgrade your coverage or compare/contrast other options on the market (Quote Here). Anthem's Clear Protection $3300 plan has been the closest competitor to the Health Net Advantage plans and there are situations (age, area, etc) where it can be more cost beneficial as an option, especially in light of the July rate change. We don't expect (cross fingers) any more rate increases for Cross and Shield through the end of year since they already had theirs Feb and March of this year. To change to a new carrier, we would need to be in good health. To make a pure downgrade within Health Net, we may be able to request this by writing depending on the plans involved.
New applicants and the July Health Net rate increase
If you're looking to purchase a new California health plan from Health Net, the period leading up to July 1st could be an ideal time. If your effective date is prior to July 1st, you will be able to lock in the old rates for a 6 month rate guarantee window which essentially takes us to the Jan 1st 2014 Health Reform change over. We expect many people will change plans/carriers December of 2013 to delay having to move to Exchange plans till Dec 2014 unless they qualify for a California health subsidy based on income levels. Keep in mind that the processing of a new application can take 7-10 business days so you want to decide and apply in advance of the change over so you're not caught with the new higher rates.
Which Health Net plans make the most sense
Currently, the Advantage $3500 and $6500 plans are by far the most popular plans on the market. They are generally the lowest priced plans on the market and still offer good catastrophic health coverage with a few copays, 100% preventative, and generic RX copays. Again, since this is a short-term consideration for at most 12 months, it makes sense to go down the pricing scale which tends to be a good strategy these days anyway considering all the rate increase. You can quote all the available plans including Health Net at www.calhealth.net.
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=1840793
*********************** ARTICLE END ***********************
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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=1840793
- 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=1840793
- 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: Health Net Announces July 2013 Rate Increase For Individual Family Plans
Author: Dennis Jarvis
Word Count: 594
Article URL: http://www.isnare.com/?aid=1840793&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1840793
Easy Publish Tool: http://www.isnare.com/html.php?aid=1840793
*********************** ARTICLE START ***********************
We received notification of a Health Net of California July 1st rate increase for Individual and Family health plans. We had anticipated no rate increase based on communication from the carrier through the end of 2013 but this puts Health Net in line with both Cross and Shield which increased their rates early in the year. Let's take a look at what to expect and how to navigate the newest health insurance increase to the California market.
What type of increase are we looking at from Health Net?
The actual percentage of increase depends on your age, plan, and area. Members can expect an increase from 9-25% with an average of around 15%. The good news is that the original rates for their most popular plans like the Advantage $3500 or $6500 plans were so much lower than the other competing plans on the market, even with this high percentage increase, it will probably still be tough to beat their rates currently on the market. Keep in mind that most of these plans and rates will go away Jan 1st 2014 (or on your anniversary month) anyway but it's definitely a look at our future in terms of rates if you do not qualify for health subsidies.
What are your options if you are a Health Net member?
If you're an existing member, you can look to downgrade your coverage or compare/contrast other options on the market (Quote Here). Anthem's Clear Protection $3300 plan has been the closest competitor to the Health Net Advantage plans and there are situations (age, area, etc) where it can be more cost beneficial as an option, especially in light of the July rate change. We don't expect (cross fingers) any more rate increases for Cross and Shield through the end of year since they already had theirs Feb and March of this year. To change to a new carrier, we would need to be in good health. To make a pure downgrade within Health Net, we may be able to request this by writing depending on the plans involved.
New applicants and the July Health Net rate increase
If you're looking to purchase a new California health plan from Health Net, the period leading up to July 1st could be an ideal time. If your effective date is prior to July 1st, you will be able to lock in the old rates for a 6 month rate guarantee window which essentially takes us to the Jan 1st 2014 Health Reform change over. We expect many people will change plans/carriers December of 2013 to delay having to move to Exchange plans till Dec 2014 unless they qualify for a California health subsidy based on income levels. Keep in mind that the processing of a new application can take 7-10 business days so you want to decide and apply in advance of the change over so you're not caught with the new higher rates.
Which Health Net plans make the most sense
Currently, the Advantage $3500 and $6500 plans are by far the most popular plans on the market. They are generally the lowest priced plans on the market and still offer good catastrophic health coverage with a few copays, 100% preventative, and generic RX copays. Again, since this is a short-term consideration for at most 12 months, it makes sense to go down the pricing scale which tends to be a good strategy these days anyway considering all the rate increase. You can quote all the available plans including Health Net at www.calhealth.net.
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=1840793
*********************** 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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