SeeChange Rates are Changing May 1, 2012
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.
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