Division of Insurance moves to protect Colorado consumers

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Division of Insurance moves to protect Colorado consumers"

Transcription

1 NEWS RELEASE For Immediate Release: October 16, 2015 Division of Insurance moves to protect Colorado consumers Colorado HealthOP not available for 2016 DENVER - Today, the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), took action against the Colorado Health Insurance Cooperative, more commonly known as the Colorado HealthOP, preventing it from selling insurance for 2016 on the state s health exchange, Connect for Health Colorado. Colorado consumers will not be able to buy new HealthOP coverage or renew existing plans for 2016, for individuals or small groups, on Connect for Health Colorado. This move comes in time to ensure that HealthOP members can enroll in new plans during the upcoming open enrollment without a disruption in coverage. The DOI took this action as the financial viability of the HealthOP came into question after learning it would receive considerably less money than expected from a federal, risk-based reimbursement program know as risk corridor. Earlier this month, the Centers for Medicaid and Medicare (CMS), announced it would only reimburse the nation s health insurers 12.6% of what they were entitled under the program - only $362 million out of $2.9 billion promised. Colorado HealthOP was expecting around $16.2 million this year from the risk corridor payments, but instead will only receive about $2 million. Because of the shortfall in funds, the HealthOP does not meet the State s minimum capital and surplus requirements. The State requires insurance companies to maintain a certain level of capital and surplus to act as a rainy day fund should the company have a number of very sick people with very high cost claims. Without enough money in that rainy day fund, a company would not be able to pay the claims for its members. The DOI has had the HealthOP under supervision since February, during which time it continued to meet the capital and surplus requirements. However, not receiving the risk corridor payment means the Colorado HealthOP's rainy day fund will be completely wiped out, and is in fact expected to be in the negative by $34 million by the end of the year. Our decision is a direct result of this shortfall by CMS, and I sympathize with the HealthOP, but the Division has requirements and it has to protect consumers, said Insurance Commissioner Marguerite Salazar. It is a key function of the DOI to make sure that insurance carriers are financially stable 1

2 enough to pay the claims of their policyholders. While Colorado HealthOP can continue to pay claims for the rest of 2015, we cannot allow it to sell or renew policies on the exchange for Commissioner Salazar added, It is truly unfortunate, but the Division had to act now, before open enrollment gets started November 1st. To delay any longer would undermine the open enrollment process, impacting the entire health insurance market in Colorado and negatively impacting Colorado consumers. And it would have been even more costly to consumers if this action had to take place once 2016 started. What does this mean for Colorado HealthOP members? As of September 15, the HealthOP had 82,785 members, with 79,877 under individual policies, while 2,908 are covered under small group policies. Current individual and small group Colorado HealthOP policyholders will continue to be covered until the end of their policies, as long as they continue to pay their premiums. But for coverage in 2016, HealthOP members will need to choose plans from other insurance carriers. Members with individual policies must choose another carrier during the upcoming open enrollment for individuals, Nov. 1 - Jan. 31. Consumers can select coverage through Connect for Health Colorado, or off-exchange, but are reminded that tax credits are only available when purchasing coverage through Connect for Health. Consumers should know that under Colorado law, they will NOT be responsible for payments to providers that should be paid by the HealthOP, as the company will continue to pay claims for current members. If for some reason, the HealthOP is unable to pay claims, the Colorado Life & Health Insurance Protection Association, a nonprofit organization that assists Colorado residents with health insurance policies by insurance companies in financial difficulties, would step in and pay claims. It is for situations such as this that the Association was created. A representative of the association, Chris Chandler, said, If called upon, the Life and Health Insurance Protection Association is prepared to provide a safety net for members and ensure the payment of claims consistent with its statutory mission of protecting policyholders. Colorado HealthOP members must still pay their premiums for their coverage to remain effective. They will still be required to pay for their share of charges such as deductibles, copayments and co-insurance, as required by their plans. What does this mean for the 2016 open enrollment? For the 2016 open enrollment for individual health insurance, Colorado HealthOP plans will not be available to buy or renew through Connect for Health Colorado. HealthOP plans will also not be available for small employers to buy or renew through Connect for Health s SHOP program Removing Colorado HealthOP from the exchange s 2016 offerings has an impact on all of the information and calculations for open enrollment. This will also impact the advance premium tax credits (APTC) that help make insurance more affordable for many. APTC is based upon the secondlowest Silver plan in an area, and since the Colorado HealthOP was the carrier with that second-lowest Silver premium in many areas throughout the state, this decision will impact those calculations. The Division is revising its figures for the number of carriers and plans available and the statewide and geographic area average premiums. The approved plans and premiums for 2016 should be available from the DOI in the coming days. 2

3 As with every open enrollment, Colorado consumers should review all of their health insurance options, and are free to explore all of the plans available in their area to determine the best fit for their health and financial needs. While Colorado consumers generally will be able decide between staying with their current plan or moving to a different plan, Colorado HealthOP members MUST choose a plan from a different insurance company for Who to contact with questions? Colorado HealthOP members enrolled through Connect for Health Colorado - contact Connect for Health Colorado with questions about renewals and choosing new options Consumers with questions about payment of claims by the HealthOP should contact Colorado HealthOP member services ### Frequently Asked Questions (FAQs) Can I enroll in or renew a Colorado HealthOP plan through Connect for Health Colorado for 2016? No. Plans from Colorado HealthOP will not be available on Connect for Health Colorado for What do I need to do to get coverage for 2016? If you have an individual policy from the HealthOP, you will need to choose a plan from another insurance company in the upcoming open enrollment, which begins Nov. 1, 2015 and continues through January 31, To make sure that coverage starts on January 1, and avoid a gap in coverage, members must enroll before December 15. If you are a small employer with small group coverage purchased through Connect for Health Colorado s SHOP program, you will also need to select coverage from another carrier when your plan comes up for renewal, although small group coverage is not tied to the Nov. 1 - Jan. 31 open enrollment dates. What happens to my current Colorado HealthOP coverage? When will it expire? For individual policyholders, your current coverage will remain effective until December 31, For those with small group policies, your coverage will be effective until the anniversary date of the policy. Will my tax credit for health insurance for Colorado HealthOP coverage stay in place for the remainder of 2015? If you are receiving a tax credit for your 2015 Colorado HealthOP individual coverage, it will continue through the end of the policy, December 31, 2015, provided you keep paying your premiums. Do I still need to keep paying premiums to Colorado HealthOP? Yes, to keep your coverage in place through the end of 2015, you must continue to pay your premiums to Colorado HealthOP. 3

4 Will my claims still be paid? Yes, the HealthOP will continue to pay claims for its current members. However, should the company become unable to pay those claims, you WILL NOT be responsible for those claims. The Colorado Life & Health Insurance Protection Association, a nonprofit organization that assists Colorado residents with health insurance policies from insurance companies in financial difficulties, would pay claims if the HealthOP is unable to. Can I still see my doctors and other providers? What about ongoing or upcoming care? What about my prescriptions? Yes, members can continue to see providers and receive coverage for both medical and pharmacy needs. If you have problems with providers not honoring your insurance, contact the Colorado HealthOP member services at , or contact the Division of Insurance at or (outside the Denver Metro area). Why did this happen? On October 8, the Centers for Medicaid and Medicare (CMS) announced that it would only reimburse the nation s health insurers 12.6% of what they were entitled to under a federal, risk-based reimbursement program known as risk corridor - only $362 million out of $2.9 billion promised. Colorado HealthOP was expecting around $16.2 million this year from the risk corridor payments, but instead will only receive about $2 million. The shortfall in funds resulted as there were more insurance companies eligible for risk corridor payments than those required to pay into the program. It is likely because many companies underestimated the risk of the new members they were taking on in 2014, and thus set their premiums too low. Additionally, CMS was recently prevented from using any other resources to make up this year s shortfall in the risk corridor program. Such a drastic reduction in risk corridor payments made the financial situation for the Colorado HealthOP unsustainable. Were any other carriers impacted by the reduced risk corridor payments? We have reviewed each carrier to assess the financial impact of the reduced payments and have determined that no other carrier impacted enough as to raise questions to their continued sustainability. ### The Colorado Division of Insurance regulates the insurance industry and assists consumers and other stakeholders with insurance issues. Visitwww.dora.colorado.gov/insurance for more information or call / toll free DORA is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. Consumer protection is our mission. Visit for more information or call /toll free Media Contact: 4

5 Vincent Plymell Communications Manager P C Disclaimer: If you do not wish to receive further s from Vincent Plymell using Meltwater or from all future s from Meltwater, please click the following link: [Remove Me]. Requests will take a maximum of 2 business days to process. If you would like to contact Meltwater, we can be reached at: Meltwater, 225 Bush Street, Suite 1000, San Francisco, California

Thank you for permitting the Division of Insurance to return with answers to the questions asked at your June 5th meeting.

Thank you for permitting the Division of Insurance to return with answers to the questions asked at your June 5th meeting. DOI Remarks to Legislative Health Insurance Exchange Review Committee July 15, 2015 Thank you for permitting the Division of Insurance to return with answers to the questions asked at your June 5th meeting.

More information

INDIVIDUAL HEALTH INSURANCE GUIDE. Introduction. What is the Health Insurance Marketplace?

INDIVIDUAL HEALTH INSURANCE GUIDE. Introduction. What is the Health Insurance Marketplace? INDIVIDUAL HEALTH INSURANCE GUIDE Introduction On November 15th, 2014, the second annual Open Enrollment Period for Individual Health Insurance begins. The Affordable Care Act (ACA) requires all US citizens

More information

Frequently Asked Questions on Rate Filing, Rate Reviews and Approval of Health Insurance Rates in Colorado

Frequently Asked Questions on Rate Filing, Rate Reviews and Approval of Health Insurance Rates in Colorado Page 1 of 5 Frequently Asked Questions on Rate Filing, Rate Reviews and Approval of Health Insurance Rates in Colorado As the cost of health care continues to rise, many insurance companies are raising

More information

Rates on a Roller Coaster A Look at Colorado s 2016 Individual and Small Group Insurance Premiums

Rates on a Roller Coaster A Look at Colorado s 2016 Individual and Small Group Insurance Premiums Rates on a Roller Coaster A Look at Colorado s 2016 Individual and Small Group Insurance Premiums OCTOBER 2015 Insurance rates in Colorado s individual and small group markets will rise in 2016, in some

More information

Health Care Reform. Frequently Asked Questions. June 2013

Health Care Reform. Frequently Asked Questions. June 2013 Health Care Reform Frequently Asked Questions June 2013 Frequently Asked Questions (FAQs) What is a health insurance marketplace or exchange? A marketplace, or exchange, is a website where you can shop

More information

Medicare Open Enrollment

Medicare Open Enrollment Medicare Open Enrollment SHINE Overview SHINE= Serving the Health Insurance Needs of Everyone on Medicare Mission: To provide free and unbiased health insurance Information, counseling and assistance to

More information

CENTERS FOR MEDICARE & MEDICAID SERVICES. Cost

CENTERS FOR MEDICARE & MEDICAID SERVICES. Cost CENTERS FOR MEDICARE & MEDICAID SERVICES Things to Think about when You Compare Medicare Drug Coverage You have two options to get Medicare coverage for your prescription drugs. If you have Original Medicare,

More information

WE RE HERE TO HELP YOU TRANSITION TO THE NEW HEALTH BENEFIT EXCHANGE

WE RE HERE TO HELP YOU TRANSITION TO THE NEW HEALTH BENEFIT EXCHANGE HEALTH CARE REFORM: INFORMATION VERMONTERS NEED TO KNOW The Federal Affordable Care Act means new health insurance products, new rules and new systems for purchasing plans beginning in 2013. Blue Cross

More information

Frequently Asked Questions: Medicare Supplement & Medicare Advantage

Frequently Asked Questions: Medicare Supplement & Medicare Advantage Frequently Asked Questions: Medicare Supplement & Medicare Advantage Who is eligible for CBIA s Medicare program? A CBIA Health Connections participant is eligible for either plan if they are qualified

More information

Need Health Insurance?

Need Health Insurance? Need Health Insurance? Illinois Health Insurance Marketplace Enrollment October 2013 through March 31, 2014 Coverage begins January 1, 2014 (if enrolled by December 15, 2013) Beginning in October 2013,

More information

Basic Health Plan Offers a Chance to Provide Comprehensive Health Care Coverage for Low-Income Minnesotans

Basic Health Plan Offers a Chance to Provide Comprehensive Health Care Coverage for Low-Income Minnesotans Basic Health Plan Offers a Chance to Provide Comprehensive Health Care Coverage for Low-Income Minnesotans The number of uninsured in Minnesota has been on the rise over the last decade, with one out of

More information

Cover Oregon.com 1-855-CoverOR

Cover Oregon.com 1-855-CoverOR CUT THE COST OF HEALTH INSURANCE FINANCIAL HELP AND NO-COST COVERAGE ARE ON THE WAY FOR MORE OREGONIANS CoverOregon.com 1-855-CoverOR (1-855-268-3767) HAVING HEALTH INSURANCE PROTECTS YOU AND YOUR FAMILY

More information

FOR IMMEDIATE RELEASE No. 16-004

FOR IMMEDIATE RELEASE No. 16-004 FOR IMMEDIATE RELEASE No. 16-004 Contact: Lori Wing-Heier Director, Division of Insurance (907) 269-7900 lori.wing-heier@alaska.gov Division of Insurance and Moda Negotiate Consent Agreement February 8,

More information

What is a Medicare Advantage Plan?

What is a Medicare Advantage Plan? CENTERS FOR MEDICARE & MEDICAID SERVICES What is a Medicare Advantage Plan? A Medicare Advantage Plan (like an HMO or PPO) is a way to get your Medicare benefits. Unlike Original Medicare, in which the

More information

This guidance is subject to revision if applicable state or federal laws change.

This guidance is subject to revision if applicable state or federal laws change. February 6, 2015 TO: RE: Carriers Offering Transitional Plans Small Group and Individual Transitional Health Benefit Plans In conjunction with Senate Bill 1582 (2014), the division issued regulatory requirements

More information

New Coverage New Choices 10/31/2011

New Coverage New Choices 10/31/2011 New Coverage New Choices 10/31/2011 What We Will Cover Today What is changing and why. How this affects you. Get to know Extend Health and the services available to you. A look at the Medicare marketplace.

More information

Teachers Retirement Insurance Program

Teachers Retirement Insurance Program Comparison of Illinois State Retiree Health Insurance Options with Traditional Medicare and Medicare Supplement (Medigap) Insurance Teachers Retirement Insurance Program Insuraprise, Inc. (C) Copyright

More information

Make sure you re covered for your biologic medicine!

Make sure you re covered for your biologic medicine! It s open enrollment time Make sure you re covered for your biologic medicine! Joint Decisions is brought to you by Janssen Biotech, Inc., in partnership with CreakyJoints CreakyJoints Bringing arthritis

More information

The Medicare Low Income Subsidy (LIS)

The Medicare Low Income Subsidy (LIS) The Medicare Low Income Subsidy (LIS) Extra Help with Prescription Drug Costs An overview of the Medicare LIS Patient eligibility and the application process How the LIS affects patient responsibility

More information

The Health Benefit Exchange and the Commercial Insurance Market

The Health Benefit Exchange and the Commercial Insurance Market The Health Benefit Exchange and the Commercial Insurance Market Overview The federal health care reform law directs states to set up health insurance marketplaces, called Health Benefit Exchanges, that

More information

An Overview. James L. Sugden, CLU Small Business Health Plan Manager

An Overview. James L. Sugden, CLU Small Business Health Plan Manager An Overview James L. Sugden, CLU Small Business Health Plan Manager What is Connect for Health Colorado An open, competitive marketplace for individuals and small employers to: Compare information regarding

More information

Health Insurance After Age 65

Health Insurance After Age 65 1 GUIDE TO MEDICARE PLANNING Health Insurance After Age 65 Whether you are retired or still working, Medicare will likely become part of your life after you turn 65. In the United States today, most health

More information

Things you need to know about Medicare.

Things you need to know about Medicare. Things you need to know about Medicare. 1 2 3 1OPTION Original Medicare We re here to help. Approaching 65 is an important milestone in life, and becoming eligible for Medicare is part of that. Whether

More information

Premium Tax Credits: Answers to Frequently Asked Questions

Premium Tax Credits: Answers to Frequently Asked Questions Updated July 2013 Premium Tax Credits: Answers to Frequently Asked Questions Beginning in 2014, millions of Americans will become eligible for a new premium tax credit that will help them pay for health

More information

Massachusetts Health Connector logo. What Does National Health Care Reform Mean for You?

Massachusetts Health Connector logo. What Does National Health Care Reform Mean for You? Massachusetts Health Connector logo What Does National Health Care Reform Mean for You? 1 National health care reform offers more opportunities for individuals, families, and small businesses to save on

More information

Annual Notice of Changes for 2016

Annual Notice of Changes for 2016 GlobalHealth Medicare Option 1 (HMO) offered by GlobalHealth, Inc. Annual Notice of Changes for 2016 You are currently enrolled as a member of GlobalHealth Medicare Option 1 (HMO). Next year, there will

More information

ANNUAL REPORT PROGRAM YEAR JANUARY - DECEMBER 2012

ANNUAL REPORT PROGRAM YEAR JANUARY - DECEMBER 2012 MARYLAND liealthinsuran PLAN Prescription Drug Assistance Program ANNUAL REPORT PROGRAM YEAR JANUARY - DECEMBER 2012 Presented June 15, 2013 MARYLAND fleallhinsurance PLAN INTRODUCTION The Maryland Health

More information

HEALTH CARE REFORM FREQUENTLY ASKED QUESTIONS

HEALTH CARE REFORM FREQUENTLY ASKED QUESTIONS HEALTH CARE REFORM FREQUENTLY ASKED QUESTIONS Consumers When will the health care reform law take effect? The health insurance reforms adopted as part of the Patient Protection and Affordable Care Act

More information

October 3, 2014 «PH_NAME» «ADDRESS_1» «ADDRESS_2» «SUITE» «CITY», «STATE» «ZIP» Policyholder ID: «PHID»

October 3, 2014 «PH_NAME» «ADDRESS_1» «ADDRESS_2» «SUITE» «CITY», «STATE» «ZIP» Policyholder ID: «PHID» Health Net of California, Inc. PO Box 9103 Van Nuys, CA 91409-9103 A. Ortiz: CA-900-03-20 www.healthnet.com «PH_NAME» «ADDRESS_1» «ADDRESS_2» «SUITE» «CITY», «STATE» «ZIP» October 3, 2014 Policyholder

More information

Optional Insurance Programs FPPA

Optional Insurance Programs FPPA FPPA FPPA offers active members and retirees a variety of voluntary insurance benefits. The list of available programs is constantly being reviewed in order to provide our members the best, most affordable

More information

June 1, 2015 «PH_NAME» «GRP_ADDR_LINE_1» «GRP_ADDR_LINE_2» «GRP_SUITE» «GRP_CITY», «GRP_STATE» «GRP_ZIP» Policyholder ID: «PHID»

June 1, 2015 «PH_NAME» «GRP_ADDR_LINE_1» «GRP_ADDR_LINE_2» «GRP_SUITE» «GRP_CITY», «GRP_STATE» «GRP_ZIP» Policyholder ID: «PHID» Health Net of California, Inc. Health Net Life Insurance Company PO Box 9103 Van Nuys, CA 91409-9103 A. Ortiz: CA-900-03-20 www.healthnet.com «PH_NAME» «GRP_ADDR_LINE_1» «GRP_ADDR_LINE_2» «GRP_SUITE» «GRP_CITY»,

More information

Shop. Compare. Choose.

Shop. Compare. Choose. Shop. Compare. Choose. Get access to robust choices on health plans Idaho Statistics Total population: 1,595,728 Median family income: $43,300 per year US Median family income: $50,054 per year Median

More information

Annual Notice of Changes for 2016

Annual Notice of Changes for 2016 Upper Peninsula Health Plan Advantage (HMO) offered by Upper Peninsula Health Plan, LLC Annual Notice of Changes for 2016 You are currently enrolled as a member of Upper Peninsula Health Plan Advantage

More information

Health Insurance Options for 2014. Karen Spink, Assistant Director Health District of Northern Larimer County

Health Insurance Options for 2014. Karen Spink, Assistant Director Health District of Northern Larimer County Health Insurance Options for 2014 Karen Spink, Assistant Director Health District of Northern Larimer County Today s presentation topics Affordable Care Act Basics Health Insurance Marketplaces Individual

More information

Your Medicare Options

Your Medicare Options H H FOR GUIDE ESSENTIAL AN H H AN ESSENTI Your Medicare Options H MEDICARE BENEFICIARIES IN ALABAMA RIES IN ALABAMA Y0106_GBKLT_15 Accepted Thank you for your interest in Blue Cross and Blue Shield of

More information

Health insurance coverage for individuals and families

Health insurance coverage for individuals and families Health insurance coverage for individuals and families Health care reform is here. If it seems like information is coming at you from all directions, it probably is. But just because it s a hot topic of

More information

Got Coverage? Need Coverage? Getting Health Insurance during the Open Enrollment Period

Got Coverage? Need Coverage? Getting Health Insurance during the Open Enrollment Period Got Coverage? Need Coverage? Getting Health Insurance during the Open Enrollment Period Jennifer Syria Health Insurance Specialist Centers for Medicare and Medicaid Services Jennifer.Syria@cms.hhs.gov

More information

illinois health insurance marketplace

illinois health insurance marketplace illinois health insurance marketplace healthcare reform is coming. find answers here. healthcarereform.illinois.gov The Affordable Care Act. What it means for you. In March of 2010, the Affordable Care

More information

HELPING SOMEONE CHOOSE A MEDICARE PLAN? MVP IS HERE TO HELP YOU!

HELPING SOMEONE CHOOSE A MEDICARE PLAN? MVP IS HERE TO HELP YOU! HELPING SOMEONE CHOOSE A MEDICARE PLAN? MVP IS HERE TO HELP YOU! Y0051_2387 Accepted WHAT YOU NEED TO KNOW ABOUT MEDICARE When you re helping a friend or family member choose a Medicare plan, be sure you

More information

Your Questions Answered

Your Questions Answered Your Questions Answered 1. GENERAL 1.1 What is happening to my retiree medical and prescription drug benefits for Medicare-eligible participants as of January 1, 2015? Effective December 31, 2014, CIGNA

More information

2015 Renewals & Redetermina3ons: Individuals and Families. Connect for Health Colorado

2015 Renewals & Redetermina3ons: Individuals and Families. Connect for Health Colorado 2015 Renewals & Redetermina3ons: Individuals and Families Connect for Health Colorado Annual Eligibility Redetermina3ons & Plan Renewals Month- to- Month View 2 September Customers may receive a no2ce

More information

STEPPING INTO MEDICARE. Invaluable help from the name you know and trust Blue Cross and Blue Shield of Illinois

STEPPING INTO MEDICARE. Invaluable help from the name you know and trust Blue Cross and Blue Shield of Illinois STEPPING INTO MEDICARE Invaluable help from the name you know and trust Blue Cross and Blue Shield of Illinois Blue Cross and Blue Shield of Illinois offers a great array of plans that pick up where Medicare

More information

Before we discuss the differences between Part A and Part B, there are two terms that are important to understand: deductible and benefit period.

Before we discuss the differences between Part A and Part B, there are two terms that are important to understand: deductible and benefit period. SLIDE 1 The ABCD s of Medicare Welcome to Health First s presentation of The ABCDs of Medicare. This is not a sales presentation it s for educational purposes and no plan specific benefits or details will

More information

Health Insurance Marketplace 101 1

Health Insurance Marketplace 101 1 Affordable Care Act Coverage Accomplishments May 2013 3.1 million young adults have gained insurance through their parents plans 6.1 million people with Medicare through 2012 received $5.7 billion in prescription

More information

It s Time for Medicare

It s Time for Medicare It s Time for Medicare med-waageinbook-1214 Medicare What you need to know. You re turning 65. Or you re already 65 and getting ready to retire and lose your healthcare coverage. You re almost ready for

More information

As of January 1, 2014, most individuals must have some form of health coverage, or pay a penalty to the federal government.

As of January 1, 2014, most individuals must have some form of health coverage, or pay a penalty to the federal government. Consumer Alert Health Insurance for 2014: What You Need to Know Before You Enroll (Individuals) As of January 1, 2014, most individuals must have some form of health coverage, or pay a penalty to the federal

More information

What Valley Residents Need to Know - about - Health Care Reform

What Valley Residents Need to Know - about - Health Care Reform What Valley Residents Need to Know - about - Health Care Reform Beginning October 1, 2013, Valley residents will have the opportunity to sign up for quality, affordable health care. Representative Tony

More information

John R. Kasich, Governor Mary Taylor, Lt. Governor/Director. Medicare Supplement Vs. Medicare Advantage

John R. Kasich, Governor Mary Taylor, Lt. Governor/Director. Medicare Supplement Vs. Medicare Advantage John R. Kasich, Governor Mary Taylor, Lt. Governor/Director Medicare Supplement Vs. Medicare Advantage Medicare Supplement vs Medicare Advantage? Option 1 Option 2 Original Medicare Part A and Part B +

More information

Exchanges and the ACA What You Need to Know for 2014

Exchanges and the ACA What You Need to Know for 2014 Exchanges and the ACA What You Need to Know for 2014 How the Affordable Care Act affects the Individual Health Insurance Market This presentation is for informational purposes only and does not constitute

More information

Your health insurance renewal is coming up.. What do I do? What should I look at? What options should I consider?

Your health insurance renewal is coming up.. What do I do? What should I look at? What options should I consider? Evaluating and Renewing Employee Health Insurance Plan Your health insurance renewal is coming up.. What do I do? What should I look at? What options should I consider? The following discusses some of

More information

HEALTH INSURANCE MARKETPLACES 2015 OPEN ENROLLMENT PERIOD: MARCH ENROLLMENT REPORT

HEALTH INSURANCE MARKETPLACES 2015 OPEN ENROLLMENT PERIOD: MARCH ENROLLMENT REPORT ASPE ISSUE BRIEF HEALTH INSURANCE MARKETPLACES 2015 OPEN ENROLLMENT PERIOD: MARCH ENROLLMENT REPORT 1 For the period: November 15, 2014 February 15, 2015 (Including Additional Special Enrollment Period

More information

Your guide to finding the best health insurance plan.

Your guide to finding the best health insurance plan. LIFE HAS OPPORTUNITIES Your guide to finding the best health insurance plan. Start saving today with the help of Excellus BlueCross BlueShield. National strength. Local focus. Individual care. SM Contents

More information

Newly-Eligible Medicare Advantage TRAIL Members FAQs What do I need to know about TRAIL as a newly-eligible annuitant or survivor?

Newly-Eligible Medicare Advantage TRAIL Members FAQs What do I need to know about TRAIL as a newly-eligible annuitant or survivor? Newly-Eligible Medicare Advantage TRAIL Members FAQs What do I need to know about TRAIL as a newly-eligible annuitant or survivor? TRAIL is a retiree healthcare program sponsored by the Teachers Retirement

More information

WASHINGTON QUALIFIED HEALTH PLAN SELECTION: CONSIDERATIONS FOR CONSUMERS

WASHINGTON QUALIFIED HEALTH PLAN SELECTION: CONSIDERATIONS FOR CONSUMERS WASHINGTON QUALIFIED HEALTH PLAN SELECTION: CONSIDERATIONS FOR CONSUMERS December 2013 Support for this resource provided through a grant from the Robert Wood Johnson Foundation s State Health Reform Assistance

More information

Frequently Asked Questions on Rate Filing, Rate Reviews and Approval of Health Insurance Rates in Connecticut

Frequently Asked Questions on Rate Filing, Rate Reviews and Approval of Health Insurance Rates in Connecticut Frequently Asked Questions on Rate Filing, Rate Reviews and Approval of Health Insurance Rates in Connecticut As the cost of health care continues to rise, many insurance companies and health maintenance

More information

What s a Medicare Advantage Plan?

What s a Medicare Advantage Plan? Revised April 2015 What s a Medicare Advantage Plan? You can get your Medicare benefits through Original Medicare, or a Medicare Advantage Plan (like an HMO or PPO). If you have Original Medicare, the

More information

Frequently Asked Questions about Health Insurance Rates and the Maryland Insurance Administration s Rate Review Process

Frequently Asked Questions about Health Insurance Rates and the Maryland Insurance Administration s Rate Review Process MARTIN O MALLEY Governor ANTHONY G. BROWN Lt. Governor THERESE M. GOLDSMITH Commissioner KAREN STAKEM HORNIG Deputy Commissioner JOY HATCHETTE Associate Commissioner Consumer Education and Advocacy 200

More information

You have from October 15 until December 7, to make changes to your Medicare coverage for next year.

You have from October 15 until December 7, to make changes to your Medicare coverage for next year. UPMC for Life HMO (HMO) offered by UPMC Health Plan Annual Notice of Changes for 2016 You are currently enrolled as a member of UPMC for Life HMO. Next year, there will be some changes to the plan s costs

More information

Insurance Rate Public Justification and Accountability Act: Potential Operational Questions Outline

Insurance Rate Public Justification and Accountability Act: Potential Operational Questions Outline : Potential Operational Questions Outline I. Scope of Analysis In November 2014, California voters will decide whether to enact a ballot initiative the (the Insurance Rate Act ) that would require health

More information

unaware or did not understand the implications of the fee for not enrolling in coverage, but the timeframes for the SEP varied among the states.

unaware or did not understand the implications of the fee for not enrolling in coverage, but the timeframes for the SEP varied among the states. ASPE ISSUE BRIEF HEALTH INSURANCE MARKETPLACES 2015 OPEN ENROLLMENT PERIOD: MARCH ENROLLMENT REPORT 1 For the period: November 15, 2014 February 15, 2015 (Including Additional Special Enrollment Period

More information

You have from October 15 until December 7, to make changes to your Medicare coverage for next year.

You have from October 15 until December 7, to make changes to your Medicare coverage for next year. UPMC for Life HMO (HMO) offered by UPMC Health Plan Annual Notice of Changes for 2015 You are currently enrolled as a member of UPMC for Life HMO. Next year, there will be some changes to the plan s costs

More information

Affordable Care Act FAQ

Affordable Care Act FAQ Affordable Care Act FAQ Based on regulatory guidance issued as of March 2014 and subject to change. Contents General ACA Questions... 1 ACA Marketplace... 1 ACA Employer Shared Responsibility... 2 ACA

More information

Extra Help. Do you have Medicare? Do you live on a limited income? Do you need help to pay for your prescriptions? 1-855-937-2372

Extra Help. Do you have Medicare? Do you live on a limited income? Do you need help to pay for your prescriptions? 1-855-937-2372 Extra Help Do you have Medicare? Do you live on a limited income? Do you need help to pay for your prescriptions? Extra Help If so you may qualify for the Medicare Low Income Subsidy (LIS) Program also

More information

Annual Notice of Changes

Annual Notice of Changes SM An Independent Licensee of the Blue Cross and Blue Shield Association CAPITAL HEALTH PLAN PREFERRED ADVANTAGE (HMO) 2016 Annual Notice of Changes H5938_DP 945 CMS Accepted 08272015 Capital Health Plan

More information

Choosing Health Care Insurance Medicare Supplements

Choosing Health Care Insurance Medicare Supplements Choosing Health Care Insurance By Steve Meinhardt http://yumainsurancehealth.com Office: 928-217-3621 Mobile: 928-580-7102 Fax No: 928-344-3507 Email: steve@yumainsurancehealth.com Or - Fill out the contact

More information

Annual Notice of Changes for 2015

Annual Notice of Changes for 2015 Express Scripts Medicare (PDP) for Consolidated Associations of Railroad Employees (CARE) Annual Notice of Changes for 2015 You are currently enrolled as a member of Express Scripts Medicare (PDP). The

More information

The Affordable Care Act and the Health Insurance Marketplace

The Affordable Care Act and the Health Insurance Marketplace The Affordable Care Act and the Health Insurance Marketplace Are You Ready? The Affordable Care Act is here! In March 2010, President Obama signed into law the Affordable Care Act (ACA), putting comprehensive

More information

The New Health Law & Small Businesses

The New Health Law & Small Businesses The New Health Law & Small Businesses October 2013 1 Goals of the New Health Law Affordable Care Act (ACA) Protect consumers against unfair insurance industry practices Give consumers more insurance options

More information

As of March 2010, a record 11.1 million people

As of March 2010, a record 11.1 million people Life & Health Insurance Advisor Los Angeles San Diego San Francisco Sacramento 1-800-334-7875 Licence #s: CA: 0294220c NV: 53484 AZ: 124074 GA: 556644 TX: 1220240 WS: 2431931 OR: 713105 Medicare Advantage

More information

STATEWIDE BENEFITS OFFICE SPOUSAL COORDINATION OF BENEFITS FREQUENTLY ASKED QUESTIONS

STATEWIDE BENEFITS OFFICE SPOUSAL COORDINATION OF BENEFITS FREQUENTLY ASKED QUESTIONS STATEWIDE BENEFITS OFFICE SPOUSAL COORDINATION OF BENEFITS FREQUENTLY ASKED QUESTIONS Contents: General Policy Information and Claims Processing Questions 1-20 Spousal Coordination of Benefits When Spouse

More information

STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS HealthSource RI Rhode Island Health Benefits Exchange Phone# 401-415-8100

STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS HealthSource RI Rhode Island Health Benefits Exchange Phone# 401-415-8100 Governor Chafee: (HSRI), which was created by Executive Order and without an underlying, specific statute, is in a unique situation as it develops its budget for FY2016. In this letter of transmittal I

More information

A Consumer s Guide to the Affordable Care Act

A Consumer s Guide to the Affordable Care Act A Consumer s Guide to the Affordable Care Act The Affordable Care Act was designed to help make health care affordable for everyone. This guide will help you understand how the ACA affects individuals

More information

How to pick a health insurance plan

How to pick a health insurance plan The three most important questions you need to ask Health care can be very expensive. Having a baby costs about $30,000, and so does the average three-day hospital stay. Health insurance is a way to reduce

More information

Marketplace Overview

Marketplace Overview Marketplace Overview What is Connect for Health Colorado? An open, competitive marketplace for individuals and small employers to: Compare health insurance costs and features side by side Shop plans containing

More information

2015 Health Care Enrollment Medicare Eligible Retirees and Medicare Eligible Dependents Henrico County General Government and Schools

2015 Health Care Enrollment Medicare Eligible Retirees and Medicare Eligible Dependents Henrico County General Government and Schools 2015 Health Care Enrollment Medicare Eligible Retirees and Medicare Eligible Dependents Henrico County General Government and Schools Frequently Asked Questions - OneExchange Q1: Why is the County sponsoring

More information

your guide to health INSURANCE reform

your guide to health INSURANCE reform CURRENT LOGO your guide to health INSURANCE reform for This guide explains how Health Reform will affect Individual and Family health plans, helps you understand different types of health insurance and

More information

Maryland Health Connection

Maryland Health Connection Maryland Health Connection What You Need To Know About Getting Health Coverage MarylandHealthConnection.gov Goals Today The importance of coverage What is Maryland Health Connection? Coverage options Qualified

More information

SMALL BUSINESS OWNERS

SMALL BUSINESS OWNERS HEALTH INSURANCE BUYER S GUIDE FOR SMALL BUSINESS OWNERS 1 Health Insurance Cooperative Agency www.hicinsur.com 913.649.5500 Content Introduction The value of health insurance Understanding health care

More information

Medicare Made Clear Answer Guide

Medicare Made Clear Answer Guide Medicare Made Clear Answer Guide Y0066_100820_113217 File & Use 08252010 Medicare can be confusing. How do you find the best options to fit your needs? This guide has some answers that may be helpful.

More information

Answers For Families And Small Business

Answers For Families And Small Business http://healthreform.gov/about/answers.html Answers For Families And Small Business Q: What is the small business tax credit and how do I know if I am eligible? A: Effective January 1, 2010, tax credits

More information

Medigap Insurance 54110-0306

Medigap Insurance 54110-0306 Medigap Insurance Overview A summary of the insurance policies to supplement and fill gaps in Medicare coverage. How to be a smart shopper for Medigap insurance Medigap policies Medigap and Medicare prescription

More information

Frequently Asked Questions (FAQs) for

Frequently Asked Questions (FAQs) for Frequently Asked Questions (FAQs) for AT&T Medicare-Eligible Retirees and Medicare-Eligible Dependents Transitioning to the Aon Retiree Health Exchange ( the Aon Exchange ) These questions and answers

More information

Bronze, Silver, Gold, or Platinum: How to Choose the Right Level of Coverage in Covered California

Bronze, Silver, Gold, or Platinum: How to Choose the Right Level of Coverage in Covered California Fact Sheet NOVEMBER 2014 Bronze, Silver, Gold, or Platinum: How to Choose the Right Level of Coverage in Covered California Summary The Affordable Care Act (ACA) requires that Covered California offer

More information

Choosing the Best Plan for You: A Tool for Purchasing Coverage in the Health Insurance Exchange

Choosing the Best Plan for You: A Tool for Purchasing Coverage in the Health Insurance Exchange Choosing the Best Plan for You: A Tool for Purchasing Coverage in the Health Insurance Exchange The Affordable Care Act (ACA) makes health insurance available to nearly all Americans and the law requires

More information

Medicare Supplemental Insurance (Medigap)

Medicare Supplemental Insurance (Medigap) Medicare Supplemental Insurance (Medigap) All Medigap s A through N The available supplemental insurance plans that are offered are lettered plans A-N. Each plan offers a different benefits package and

More information

Annual Notice of Changes for 2015

Annual Notice of Changes for 2015 BlueRx (PDP) Local Government Health Insurance Plan (LGHIP) Prescription Drug Coverage for Medicare Members offered by Blue Cross and Blue Shield of Alabama Annual Notice of Changes for 2015 You are currently

More information

Annual Notice of Changes for 2015

Annual Notice of Changes for 2015 Prescription Blue SM PDP, Option B, offered by Blue Cross Blue Shield of Michigan Annual Notice of Changes for 2015 You are currently enrolled as a member of Prescription Blue Option B. Next year, there

More information

Affordable Care Act at 3: How Colorado s insurance exchange is gearing up for 2014

Affordable Care Act at 3: How Colorado s insurance exchange is gearing up for 2014 Affordable Care Act at 3: How Colorado s insurance exchange is gearing up for 2014 ISSUE BRIEF First in a series March 23, 2013 George Lyford Health Care Attorney 789 Sherman St. Suite 300 Denver, CO 80203

More information

Understanding Private Health Insurance Plan Choices and Provider Networks

Understanding Private Health Insurance Plan Choices and Provider Networks Understanding Private Health Insurance Plan Choices and Provider Networks Definitions Deductible Out-of-Pocket-Maximum Embedded Deductible Aggregate Deductible Networks PPO EPO HMO POS - HDHP HSA Catastrophic

More information

HEALTH CARE REFORM DOCUMENT FROM THE WEBSITE OF BLUE CROSS BLUE SHIELD OF NORTH DAKOTA

HEALTH CARE REFORM DOCUMENT FROM THE WEBSITE OF BLUE CROSS BLUE SHIELD OF NORTH DAKOTA HEALTH CARE REFORM DOCUMENT FROM THE WEBSITE OF BLUE CROSS BLUE SHIELD OF NORTH DAKOTA Frequently Asked Questions I ve heard the federal government launched a new website called Healthcare.gov. How can

More information

Annual Notice of Changes for 2015

Annual Notice of Changes for 2015 Coventry Advantage (no drug) (HMO) offered by Coventry Health Care of Missouri, Inc. Annual Notice of Changes for 2015 You are currently enrolled as a member of Coventry Advantage (no drug) (HMO). Next

More information

Contact Social Security

Contact Social Security Medicare Contact Social Security Visit our website Our website, www.socialsecurity.gov, is a valuable resource for information about all of Social Security s programs. At our website you also can: Apply

More information

Choosing a Medicare prescription drug plan.

Choosing a Medicare prescription drug plan. Choosing a Medicare prescription drug plan. Medicare Made Clear TM Get Answers Series Look inside to: Learn about Part D prescription drug coverage options Find out what you need to know about the Part

More information

Saving Money on Medicare Plans

Saving Money on Medicare Plans Saving Money on Medicare Plans Tips for making the most of the Medicare Open Enrollment Period Oct. 15 - Dec. 7 2012. All rights reserved. Longevity Alliance, Inc. does business under the name Longevity

More information

EXPLAINING HEALTH CARE REFORM: Risk Adjustment, Reinsurance, and Risk Corridors

EXPLAINING HEALTH CARE REFORM: Risk Adjustment, Reinsurance, and Risk Corridors EXPLAINING HEALTH CARE REFORM: Risk Adjustment, Reinsurance, and Risk Corridors As of January 1, 2014, insurers are no longer able to deny coverage or charge higher premiums based on preexisting conditions

More information

Health Care Reform: General Q&A for Employees

Health Care Reform: General Q&A for Employees From Baugher Financial & Associates, Inc. Health Care Reform: General Q&A for Employees Common questions answered I ve heard a lot about the health care reform law. When do the reforms become effective?

More information

HEALTH CARE REFORM CHECKLIST

HEALTH CARE REFORM CHECKLIST HEALTH CARE REFORM CHECKLIST As a small employer, you need to be aware of the new regulations tied to the Affordable Care Act. Refer to this checklist to ensure you understand each one and that you re

More information

Health Insurance Basics:

Health Insurance Basics: Health Insurance Basics: Key Words and Phrases You Need to Know Shopping for insurance can be confusing, but the Affordable Care Act (ACA) makes it easier to understand. This simple guide will help you

More information

MEDICARE Q & A. Note: Coverage always begins on the first of the month.

MEDICARE Q & A. Note: Coverage always begins on the first of the month. MEDICARE Q & A Q. Is there any restriction on the amount of sick time I can convert to get additional medical coverage? A. No, the only restriction is you must convert at the rate of 120 NET sick hours

More information

Marketplace Overview. Latino Health Disparities Conference October 2013

Marketplace Overview. Latino Health Disparities Conference October 2013 Marketplace Overview Latino Health Disparities Conference October 2013 What is Connect for Health Colorado? Competitive marketplace for private health insurance Exclusive way to get new financial help

More information