Group Health Transitional Relief through 2018

The Centers for Medicare & Medicaid Services announced the extension of grand mothered plans through 2018. If you purchase a group health plan prior to the affordable care act, you know have another year you can extent that coverage.

Indiana Health Insurance Company Updates

For Indiana, there are a lot of small companies that have been able to benefit by keeping those plans in place. They cost anywhere from 10%-25% less than ACA plans. These plans were ordinary underwritten, which leads to lower risks and better rates. They also do not have to follow the guidelines on age bands, no more than 3 x difference in cost from the oldest to the youngest. If you have younger employees, not having the age band restriction could be 40% lower than ACA plans.

Most of these plans will renew in December, remember these plans are being rated based on the groups actual claims. Rate increase can vary from single digit up to the 30% market for small group. These plans do allow for brokers to negotiate the rate increase.

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