SeeChange Rates are Changing May 1, 2012

Here is what SeeChange is saying  . . .

Rate Adjustment (Small Group Plans Only)
We’re not using the term “adjustment” just to avoid the word “increase.” Premiums are going down for some products and some rating areas (pending Department of Insurance approval, of course).

  • The average unweighted increase (the average premium change based on all our plans in all our rating areas) is 1.3%
  • The average weighted increase (the average premium change our existing groups will experience) approximately 7%
  • Rates will now be based on the employee’s residence, not the employer’s location. This could impact rates for specific groups whose employees reside in a different rating area than the one in which they work.
  • These are averages: the rating changes vary significantly by product and area. Please see our Rating Matrix at www.SeeChangeHealth.com/brokers

Benefit Improvements (For Both Small and Large Group Plans)
Our value-based benefit approach rewards members who take steps to improve and manage their health. We’ve increased the reward for some of our plans.

  • Classic Plans (2200, 3500 and 5000):
    We’ll now contribute $500 to the Health Incentive Account for employees who complete their Preventive Health Actions—and another $500 when their spouse or domestic partner completes theirs. That’s a total of $1,000 per couple, up from the $200 per person contribution we make today.
  • No-Deductible 3.0:
    We’ve improved the co-insurance levels by 10%:
    - Standard in-network benefit is improving from 60/40 to 70/30.
    - Enhanced in-network benefit is improving from 70/30 to 80/20.

For details concerning the rate adjustments rate adjustments and benefit improvements please see our new Rate Tables and Benefit Summaries at www.SeeChangeHealth.com/brokers.

SeeChange Health Reports Substantial Growth in Value-Based Businesses, Projects a 600% Increase in Revenue for 2012

Innovative Provider of Value-Based Benefit Design Solutions for Employers Achieves 250% Growth Rate in SaaS-Based Health Solutions Business and 300% Growth Rate in California Health Insurance Business

SAN FRANCISCO, CA–(Marketwire -01/24/12)- SeeChange Health (www.seechangehealth.com), an innovator in value-based benefit design solutions to improve health and reduce health care costs, today announced that the company’s growth is accelerating and is on pace to exceed $50 million in revenue over the next 12 months.

SeeChange Health offers value-based benefit design solutions to meet the needs of businesses of all sizes. SeeChange Health Insurance provides value-based benefit plans to fully insured employer groups in California and is the first to bring this unique approach to small and midsize companies. SeeChange Health Insurance is now the fastest-growing health plan in the market, as brokers and employers alike are embracing the value-based model. Read full article here.

SeeChange Health Plans Partner with California State Parks

SeeChange Health Insurance Company and the California State Park system have joined together to reimburse SeeChange members for day use park fees.  SeeChange Health plans focus on wellness and prevention, and belives that encouraging plan participants to frequent California State Parks is one more way the company will enable healthy behavior.

Plan participants will submit their park receipts directly to SeeChange Health for reimbursement. California State Parks boasts 278 parks across 1.4 million acres.

Plan participants can also receive up to $400 when they complete a personalized Health Action Plan, such as having an annual check-up, completing a health questionnaire and participating in a biometric screening (basic lab tests).

In addition to the $400 reward, SeeChange Health members who select the new value-based insurance plans and complete their personalized Health Actions will enjoy richer benefits and will see a significant reduction in out-of-pockets medical costs.

Earlier this year, SeeChange Health successfully launched its value-based insurance plans in California, beginning with the Fresno area. The company recently expanded into Monterey, Santa Clara and San Benito counties. Over the upcoming months, SeeChange Health will have value-based insurance plans available in various locations throughout the state.