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51-100: Anthem’s Early Renewal/Extended Contract Opt-In Form
Aug 24, 2015
As you assist your Large Group clients with weighing their options for health care coverage in compliance with the Affordable Care Act (ACA) in 2016, the Early Renewal/Extended Rate Opt-in Form for employer groups with 51-100 employees is now available. This form enables groups to choose one of the following:
Elect an early renewal date of 10/1/15, 11/1/15 or 12/1/15 during Q4 2015. The group will then receive a 12-month renewal letter outlining their new 12-month rates. The group can then transition to a Small Group ACA-compliant plan at the end of the 12-month period (10/1/16, 11/1/16 or 12/1/16) or earlier if the group chooses.
Select up to a 15-month extended rate guarantee (depending on the early renewal date chosen) and coverage through 12/31/16. With this option, Anthem will amend the group contract at the time the new extended rate guarantee begins (10/1/15, 11/1/15, or 12/1/15) to reflect the new extended rate guarantee. Anthem will again amend the group contract on 12/31/15 to re-set the group’s anniversary date and policy year to 12/31/15. At the time the group’s rate is re-set (on 10/1/15, 11/1/15 or 12/1/15) it will be eligible for open enrollment. The group’s next open enrollment period will occur when the group transitions to Small Group, and no additional open enrollment periods will be offered. The group will transition to a Small Group ACA-compliant plan on 1/1/17 or earlier if the group chooses.
These options are available to existing 51-100 groups with renewal dates of 1/1/15 – 6/1/15, and new and existing 51-100 groups with renewal dates of 7/1/15 – 12/1/15.
For any questions or concerns regarding these early renewal/extended rate opt-in choices, please contact
a member of your b&p Sales Team - 888.722.3373.