30 Second Insurance Tips©

Tip #304- Another Year For Gramma?

Who says you can’t live forever!
A few months ago in Tip #286 I wrote about the sun setting of so called “grand-mothered” health plans at the end of 2017.
A “grand-mothered” small group (2-50 employees) health plan circumvents full compliance with The Affordable Care Act through “transitional relief” guidelines first issued in November of 2013 and extended twice since then.
This just in: Thursday, CMS issued a Bulletin (here) extending “transitional relief” yet again!
In short, depending on the demographics of any particular group, premiums may be lower for a community rated ACA Plan or a “grand-mothered” plan. By some estimates, more than half of the small group market – about 8 million people – has chosen to remain on “grand-mothered” plans.
Of course, the future of The ACA itself is in question, but if your group or individual health plan renewal is late in 2017, it’s beginning to look like you will have the option to continue coverage through 2018.
Know that we’re watching closely and Tips readers will be amongst the first to hear new developments.