30 Second Insurance Tips©

Tip 235- Rates & Dates

What will health insurance premiums look like in 2016? We’ll learn soon enough as insurers will start unveiling their rates on or soon after October 1st.

Armed with the 2016 premiums, we’ll be able to help individual consumers pre-plan for the Open Enrollment Period (OEP) that starts November 1st and runs through January 31st.

We’re really looking forward to seeing the new rates for small groups. Especially so, since January 1st is also the date when the definition of small group changes from 2-50 to 2-99 employees.

Remember, a key provision of The Affordable Care Act is that fully insured small groups can no longer be medically underwritten. That means an employer with 50-99 employees and experience rated (i.e., high claims) premiums might catch a break for the new year.

OK. Since this Tip is on rates and dates, don’t forget the Medicare Open Enrollment Period begins October 15th and runs through December 7th.

It’s a busy time; maybe our letterhead should read H & R Rauser!

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