Grand-mothered Policies – Last year, groups were allowed to renew September to December to hold their non-ACA compliant medical plans for another year. This year, these policies will be forced to renew into ACA Compliant plans as of December 31st 2015. Now is the time to give your insurance broker a call to discuss the potential financial impact of moving to an ACA compliant plan, so you can be prepared for your renewal.
In general, rates are expected to continue to rise between now and the end of the year, so the sooner you renew the better the likelihood of receiving lower rates. One point of interest. Companies renewing with HealthNet SmartCare HMO are reporting substantial increases in premiums (up to 100%). Aetna is also announcing significant increases in premiums beginning in October of 2015.