As a prime example, a 21 year old female (born in September of 1995) living in Los Angeles with an Anthem Blue Cross 2016 Platinum 90 D PPO plan paid $239.73 per month. Starting in January of 2017, her plan rate will be $494.88 per month! That is a 106% increase in premium! This quote was generated 10/18/2016 utilizing the shop and compare tool on Covered California.

Not only will her plan rate soar, but her plan will change from a PPO to an EPO. This means that her plan will no longer have any out-of-network benefits.

Open enrollment for 2017 begins November 1, 2016 and ends January 31, 2017. If you are in need of an individual/family health insurance plan, make sure to apply during open enrollment. Also, if you are unhappy with your current plan, open enrollment is the time to switch plans. Changing the tier level of your plan, changing carriers, or changing from a PPO to an HMO are all potential ways to mitigate the price increases.

Make sure to get several quotes for comparison and have your insurance broker review them with you. Health insurance plans have varying premium amounts, deductibles, copayments, coinsurance costs, out of pocket maximums, and drug benefits. You are going to want to find the right plan for your needs and budget.

Keep in mind that to establish a new group plan, there is no open enrollment period. A group plan can be put into place at any time throughout the year.

If you are a California resident in need of an individual/family plan or a group plan, please contact us at Secureterminsurance.com. We are insurance brokers dedicated to helping you find the right plan for your needs!

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Whether you are an employer looking to please your employees, or an employee searching for that perfect job, health coverage is on everyone’s mind. After all, a person’s health is his or her most important asset.

For employers looking to provide group health insurance benefits to their employees here is a list of considerations.

1. Group health insurance plans can be put in place for a company that has as few as two employees. However, if the company has only two employees there must be 100 percent participation in the plan.
2. If a company has more than two employees, then the required level of participation in the plan will vary. Typically, group health insurers require at least 50% participation. However, exceptions are made and it is often beneficial to seek a proposal even if the employer knows that participation would be as low as 25% (especially if the number of employees at the company is large).
3. In order to get a quote for a group health insurance plan, a census will need to be provided. A census is a list of all employees on the payroll.
4. To apply for a group health plan, a DE-9C form is required. The DE-9C form is a quarterly wage report.
5. When getting a quote the employer will have the option to see HMO and PPO group health insurance plans. In some cases, a custom plan with some employees on an HMO and some on a PPO is possible. HMOs are less expensive than their PPO equivalents. The level of deductible will be an important choice as well. A high deductible is less expensive than a low deductible.
6. An employer can decide the contribution amount. In some cases, an employer will pay for the entire premium or just a percentage of the premium leaving the employee to pick up the difference.
7. If the employer is on the DE-9C he or she can add his or her own dependents (spouse, domestic partner, children) to the plan.
8. Group health plans do not include dental insurance. Group dental insurance is an extra benefit that can be added at any time.

For employees that are able to participate in a group health insurance plan here is a list of considerations.

1. If the employer is offering both an HMO and a PPO then it is important to weigh out the decision carefully. Keep in mind that choosing an HMO requires the selection of a primary care physician within the network before the plan is implemented.
2. Always ask for a network list of doctors and hospitals ahead of time before making a decision on what group health insurance plan to go with.
3. Considering finances is also important. If the employer is only subsidizing 50% of the premium, then going with the most expensive plan available might not be the right choice.
4. Dependents (spouses, domestic partners, and children) can be added to the plan, but it will add to the premium cost.
5. Varying deductibles will likely be available. The lower the deductible, the more expensive the plan will be.

Free Quotes and Personalized Service

Looking to implement a group health insurance plan in California? Contact us at Secure Term Insurance.  Our experienced brokers search the entire marketplace to find your company the right options. We offer step by step guidance throughout the application process, underwriting process, and any assistance you may need thereafter.

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