How to Delay the Impact of Health Care Reform

If you have group coverage, and you are a small business … listen up! We are advising our customers whose insurance renews in January 2014 to basically “hit the reset button” on their health plan in December. Why? If you push your renewal date to December instead of January, it could allow your business the chance to delay the impact of some key provisions of the affordable health care bill that go into affect Jan 2014.

The affordable healthcare act says that small business health plans will have to cover a range of required benefits. We feel this is going to drastically raise the insurance rates for companies with younger, healthier workers and possibly decrease the rates slightly for businesses with less healthy workers.

In one insurer’s documented case, they projected as high as a 78% rate up for a relatively healthy employer if they renewed in January; However, by renewing early they could limit their increase to 15% or less.

Some states are questioning this early renewal tactic to delay compliance with the reform.  Check with your agent, or give us a call. We feel, if you can save money, everything little bit helps, even if it is for a short term fix. If your state or carrier will not allow it, we can help you in another way! Give us a call 877-740-8683.

Tell us what you think ...