Aetna's Premium Savings Program

Mar 28, 2013

The health insurance landscape is constantly changing making it difficult to keep track of all the opportunities available. That’s where Aetna comes in. Aetna is committed to helping you and your clients navigate through the changing health care landscape and help you unlock the right combination of cost and coverage to fit your client’s needs. Aetna’s Premium Savings program – an early renewal option, is one way that they can help provide cost savings to some of your clients during this time of change.

Introducing Aetna's Premium Savings Program
In 2014, changes set in motion by the Affordable Care Act (ACA) may lead to dramatic increases in premiums. Factors such as essential health benefits, maximum plan deductibles, the application of new taxes and fees, and new rating rules will combine to push insurance premiums up substantially for some small businesses. The rate impact can vary.

So the more you understand today’s options and current dynamics, the better you can provide the best solution to meet your clients’ needs. By electing a fourth quarter 2013 renewal, some of your clients can achieve significant cost savings in 2014 and take time to assess their business needs for the future, without sacrificing their current coverage today.

Even if your clients have already renewed their policy this year, there is still time to take advantage of the savings - Aetna is extending this offer to all renewing and new business clients. They will work with you to determine the best option that meets your clients' needs.

Options to consider for your clients who may benefit from this offer:

Elect an off-cycle renewal September 1 - December 1, 2013 and keep current benefits and rate levels in place for the following twelve months.

Maintain current renewal cycle in 2014 and move to the ACA based plans and rates.

Clients may benefit by moving to Aetna due to competitive rates that remain constant from July 2013 through December 2014.

Advance notice is required for Groups who are interested in participating in the Premium Savings program -

Groups with a current Jan-June renewal need to request an off-cycle renewal 90 days’ prior to the requested effective date, with acceptance needed 45 days prior to new renewal date. (i.e. February renewal requesting a November 2013 renewal, need to request this by August 1, with notification of acceptance by September 15)1

Groups with an upcoming July-Dec renewal need to provide acceptance 30 days prior to their current renewal date (i.e. August renewal with off-cycle renewal for December, notification of acceptance is needed by July 1)2

If you have any immediate questions regarding Aetna please contact your b&p Sales Team - 888.722.3373. If you would like more information regarding Aetna webinars, contact your local Aetna sales executive.

¹In CA, groups will receive an updated RAF and rates based upon their renewal date
²In CA, group rates and RAF will be the same as their 2013 effective or renewal date.