We have made this decision based on the 90 day policy duration limitation to the STM insurance marketplace that was effective April 1, 2017. This has caused many producers in the web broker community to focus their efforts on other supplemental health insurance products like limited medical plans. As a result of marketplace conditions, we are no longer able to profitably maintain this business.
Covered California Predicts Increased Rates If Cost Sharing Reduction Payments To Health Insurance Companies Are Eliminated
The impact of not providing direct federal funding of cost-sharing reductions is enormous, and not only puts the viability of the individual market in many states in peril, but would be a bad deal for the federal budget — costing more than $47 billion over the next 10 years,” said Peter V. Lee, executive director of Covered California.
Anthem Blue Cross 2017 Individual and Family Plan Materials
For 2017, we have adjusted our product portfolio to include an exclusive provider organization (EPO) in most rating regions. Rating Regions 10 – 14 (Southern San Joaquin Valley counties) will continue to be offered PPO plans. Members on some 2016 PPO plans and all Tiered PPO plans in these areas will be transitioned to EPO plans effective 1/1/17 (unless they choose a different plan). Members will have access to our Pathway network of doctors and hospitals, but their EPO plan will not cover out-of-network benefits.
2017 Small Group Rate Changes and Expansion from Covered California
Covered California announced today the rates and expansion plans for its small group health insurance exchange, Covered California for Small Business. The statewide weighted average rate increase is 5.9 percent, for employers and their employees beginning Jan. 1, 2017, which is down from the 7.2 percent increase in 2016.
Anthem Blue Cross clarifies transgender nondiscrimination rules for health insurance
The rule includes clarifications and requirements for covered entities (including Anthem) that impact how Anthem administers benefits related to transgender services, and requires Anthem to add statements on materials provided to members about nondiscrimination, as well as information about language assistance.
Cigna files for 18% increase in California individual and family plan rates
Cigna has filed their 2017 California individual and family plan rates with the California Department of Insurance requesting overall rate increase of 18%. Cigna’s rate filing states the new 2017 health insurance premiums would affect 18,253 of their members in California.
Blue Shield to automatically enroll members in Obamacare plans
Blue Shield of California has sent notices to 2,062 consumers of their grandfathered health plans notifying them they will be automatically enrolled in Obamacare plans for 2017. Blue Shield will no longer be offering 17 of their grandfathered individual and family plans in 2017. Blue Shield stated that the grandfathered plans are being withdrawn from the market place due to low enrollment.
IRS Facts on Small Business Tax Credits
If you are a small employer, there is a tax credit that can put money in your pocket. The small business health care tax credit benefits employers. The credit is available to eligible employers for two consecutive taxable years beginning in 2014 or later.
Gender Identity discrimination prohibited under new health insurance rules
Final rule prohibits discrimination based on race, color, national origin, sex, age or disability; enhances language assistance for individuals with limited English proficiency; and protects individuals with disabilities
Incarceration status and health insurance subsidies
The Centers for Medicare and Medicaid Services has released a Frequently Ask Questions documents discussing health insurance subsidies when a person is incarcerated in jail or prison. This includes such situations of a person being arrested but not yet convicted of a crime and those on probation and parole.