Small Group Health Insurance Renewal

Small group health insurance renewal from July 1 to the end of the year just got really interesting.

If you have been following my blog posts, then you may have read an article titled “What Is “Grand Mothering” And How It Will Impact You?”

Grand Mothering is the ability to keep your current group health plan, even if it isn’t compliant with the Affordable Care Act in Indianapolis.

Why would you want to keep your current group health plan?

Well…because of the cost!

The current non-ACA small group health plans cost much less than the new ACA-compliant plans. We are talking 35-55% cheaper, which is a huge percentage.

Under the ACA, the non-compliant plans will not have any pre-existing coverage provisions. These plans are going to have the definition of “Legacy Plans.”

Have you experienced a rate increase?

It might be valuable for you to take a look at the new ACA-compliant plans if you have received a large rate increase in the past or if your employee base is, on average, older. In high utilization groups, we have seen some rates actually go down. This has happened! It is very easy to pull the numbers and plan designs for the new ACA-compliant plans.

If you decide to move to a new ACA plan then you will not have the option of moving back. If you stay with your “Legacy Plan” you cannot make any plan changes.

Small business could gain huge savings.

This is the time a small group should consider new options. Under the ACA, there are some advantages that have not been revealed to most small groups in the area. These advantages could create huge savings for your company and your employees. If you are interested in learning about a new approach to health insurance, contact me, Tony Nefouse, at (800) 846-8615.


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