Thursday, October 16, 2014

From the Mailbag: Now you see it, now you don't

FoIB Jeff M, commenting on the curious case of the missing renewal numbers, wonders:

"Our most transparent administration ever has announced that ACA plan renewal rates won't be released until after election day. But don't renewal rates have to be released 60 days prior to renewal?"

Great question.

Our own Pat Paule has your answer:

"The 60 day written notification applies to grandfathered plans in the individual market, as well as grandfathered and non-grandfathered plans in the small group market. Non-grandfathered coverage in the individual market doesn't have to receive their written notice until "BEFORE THE FIRST DAY OF THE NEXT ANNUAL OPEN ENROLLMENT PERIOD." Insurers in this market are not allowed to send written notices of renewal until the QHP (Qualified Health Plan) Issuer Agreements for the plan year have been signed, "to ensure that the correct information is included."

It is my understanding that a few states have approved rates available to view - without benefit summaries - and others are still waiting on their Compliant Issuer Agreements to be approved. Any guess where these agreements are at? Also, none of the plans take into account the beloved subsidies. Without that information we really have no idea how much more these plans will cost people until they have the ability to enroll beginning on 11/15

Thank, Pat!
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