I represent eight health care group plans to serve the needs of individuals and employers in Northeast Wisconsin. All of these group carriers are now offering short renewals for 2013, with basically a “reset” to their year long renewals beginning December 1, 2013. The health plan wouldn’t then renew again until December 1, 2014, thereby circumventing eleven months of the new Healthcare Reform Law.
For some employers offering group coverage, this will prove to be a wise decision, especially if they have a younger and healthier workforce. For employers who have an older workforce with some higher increases in recent years, they may find that the community and unisex rating will not negatively impact them.
We are now waiting for the carriers to provide us with the December 1, 2013 renewal rates, so once again, it’s hurry up and wait until we have more specifics. Stay tuned for additional updates on our Hanson Benefits blog, as we continue to help individuals and employers navigate through their options and select a benefit plan that best fits their needs.