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2-50: Aetna Announces Rate Reductions for 1st Quarter 2013

Jan 15, 2013

Quarter 1 rate reductions

Updated rates for Aetna Small Group

Aetna and the California Department of Insurance worked together to reach an agreement on a rate adjustment that will be implemented for our Small Group customers enrolling or renewing in an Aetna Managed Choice® or Open Choice® PPO plan from January - March 2013.

Due to the rate adjustment, the premium amounts reflected in new business quotes or renewals will be reduced by the approximate percentages below for the Managed Choice and Open Choice PPO plans. 

Rating Area
January
February March
1
-2.50%
-2.50% -2.56%
2
0%
-2.73% -2.76%
3
0%
-2.73% -2.76%
4
-0.70%
-2.73% -2.76%
5
-0.70%
-2.73% -2.76%
6
0%
-0.33% -0.36%
7
-2.00%
-2.03% -2.06%
8
-2.50%
-2.53% -2.56%
9
0%
-0.33% -0.36%

In addition, the rates for the MC $2,500 plan in rating areas 1, 3, 4, 5, 6 and 7 will be decreased 2%.

HMO rates will remain the same for January. HMO rates in February and March will decrease by less than 1%.

Further items to keep in mind:

Groups renewing in January, February and March -

  • Since renewals for January, February and March have been mailed in order to ensure the 60 day notification, groups renewing in this time frame impacted by the rate change will receive updated renewal packages and a letter (sent separately) outlining the rate changes. Brokers will also receive a copy of the revised renewal.
  • Groups with January and February renewal dates will receive a premium credit and billed at the lower rates in March
  • Groups with March renewal date will be billed at the lower rates on their March bill
  • Brokers and groups will receive a letter and an updated renewal package by February 15th, 2013

View updated rates:

New groups that were approved on or after January 2nd:

  •  For groups approved prior to December 31st, an updated final rate package will be prepared for the groups approved prior to January 11, 2013
  •  The final rate package will be emailed to the broker (direct sales with Aetna) or General Agent.
  • The broker and General agent are responsible for notifying the groups of the updated rates.

New groups that were approved on or after January 2nd:

  • New groups that were approved on or after January 2nd will receive the updated rates at the time the group is approved

We're here to help!

Call your b&p Group Sales Representative at 1-888-722-3373 if you have any questions.

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