Health Net Plan & Rate Updates Effective January 2024

Health Net announced plan and rate updates for January 1, 2024 effective dates. Rates are available for quoting!

Rates

Quarterly Rate Change (may vary by plan and region)

• HMO: 2.4%
• PPO: 0%

Annual Rate Change

• HMO: 8.3%
• PPO: 2.7%

Dental: New rates available. No plan changes at this time.

Vision: No rate or plan changes at this time.

Optional chiro: All plans will have the chiro rider option in 2024. The chiro rider will be an additional $3.00 PMPM for all HMO and PPO plans.

2024 Plan Updates

Health Net is adding 3 new plans in 2024:

• Gold HDHP PPO 1600/20%
• HMO Platinum $35 available in the Full Network HMO, WholeCare HMO, SmartCare HMO, and Salud HMO y Mas networks
• HMO Gold $55 available in the Full Network HMO, WholeCare HMO, SmartCare HMO, and Salud HMO y Mas networks

2024 Portfolio Highlights

• No deductible: Health Net offers competitive Gold and Silver plans with no deductible.
• Teladoc: All plans have access to Teladoc for behavioral health and general medical needs.
• Bundling: Health Net can be written alongside any carrier with no limit to the number of carriers so long as participation is met.
• Network mix: You can mix and match all of Health Net's networks, giving groups the option to offer multiple plans and networks to their employees.

Simplified Underwriting Programs

Enhanced Choice

• 5 enrolled subscribers minimum.
• No DE9C, payroll, or ownership documents are required.
• No prior carrier bill is required.
• All eligible employees declining coverage must provide a waiver including those enrolling with another carrier.
• Employees enrolled on another carrier through the same employer will not count against participation.

HMO with 6

• Mix and match any plans from the HMO networks
• No DE9C, payroll, or ownership documents are required.
• No waivers are required (when not paired with Life or Employer Paid Dental/Vision).
• No participation attestation required.
• No prior carrier bill is required.

Flexible Underwriting

• 2 weeks of payroll for a Startup Group of any size (down to 1)!
• Mix and match any of Health Net's 52 plans.
• Health Net can be written alongside any carrier, no limit to the number of carriers if participation is met.
• 70% participation for groups of 1-4 enrolling.
• 25% participation for groups of 5-100 enrolling - not a promotion!
• Health Net accepts PEO subgroups with a quarterly wage report or 2 weeks of payroll from the PEO.

Important Dates

• 10/18/23 - January renewals emailed to General Agents
• 10/25/23 - January renewals mailed to Brokers
• 10/31/23 - January renewals mailed to Employer Groups

6% for 6 Broker Bonus Program

As a reminder, Health Net's is offering a 6% commission rate on new medical business for the life of the case when you sell any new Small Group with 6 or more enrolled employees. This bonus program continues through January 2024 effective dates. See their flyer for complete details.

Book Rates

Book rates will be posted to the B&P website when they are available.

For questions, please contact a member of your B&P Sales Team – 888.722.3373.