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Greetings!

Affordable Care Act Open Enrollment Starts November 1st: Open Enrollment is right around the corner for any of those wanting to compare and review coverage. Please contact us closer to the end of October for a review appointment. You may also review options online at our direct plan comparison website.

Clients On National General & United Health Care 2 & 3 Year Plans: Please contact us if you would like to renew your coverage for a new full 3 year period. As we previously reported, the Biden Administration has issued an executive order "limiting" these annual plans. However, that "limit" has not yet taken place so it would be wise to lock in your plan for another 3 full years if possible.

Medica Mailing Out Rebate Checks: Many of you enrolled in Medica in previous years will be receiving a rebate check in the mail for over charged health insurance premiums. Under the Affordable Care Act, health insurance companies are required to pay out 80% of premiums in claims. Any premiums not paid out up to 80% are required to be refunded back to the policy holder. This may create tax issues for those small business owners and self employed people who deduct health insurance premiums. Please consult your tax advisor for questions and concerns.

Healthcare .gov Announces Special Enrollment For Those On Unemployment: For individuals receiving unemployment benefits, Healthcare .gov has announced a Special Enrollment in which application can enroll or change plans.
Medica COVID-19 Vaccine Website and Information
National General has typically been offering the lowest priced 3 year plans for those age 55 and younger. Contact us if you are interested in quotes.

COVID-19 Updates from National General.
Pivot Health is now offering 3 year plans in Iowa.
Wellmark Blue Cross has filed for a proposed rate increase with the Iowa Insurance Division. The proposed rates will go into effect on January 1st 2022 and must first be approved by the Iowa Insurance Commissioner. It is important to note that often, increased tax credit subsidies often off-set the increase in premiums on the Affordable Care Act plans. Wellmark states the following reasoning for their rate increase:

Pre-Affordable Care Act Plans
  • 6% Increase in Claims over $50,000
  • 16% Increase in Pharmacy Costs
  • 47% Increase in Dermatology Costs
  • 82% Increase in Specialty Prescriptions

Affordable Care Act Plans
  • 15% Increase in Doctor Visits, Psychiatric Visits & Physical Therapy
  • 18% Increase in Claims over $50,000
  • 83% Increase in Mental Health Services
  • 181% Increase in Ambulance Services

Proposed Rate Increases
  • Pre-Affordable Care Act Grandfathered HMO plans - 0.0%
  • Pre-Affordable Care Act Grandmothered HMO plans - 10.0%
  • Pre-Affordable Care Act Grandmothered PPO plans - 5.9%
  • Affordable Care Act plans - 11.1%

View Wellmark's Rate Increase Infographic

Wellmark will soon be mailing out new insurance cards. Under the Consolidated Appropriations Act, health insurance cards must now include additional information such as deductibles, in and out of network maximum out of pockets, etc. Please note card and plan information will be the same. You will just have additional information on your card.
UHC has filed for a 25% average rate increase on their Pre-Affordable Care Act plans. While these plans have held very stable premiums in the past, we new the time would come where significant rate increases would be in store. This is due to not only increasing medical costs, but also that there are no new customers allowed in the Pre-ACA risk pool of plans.

While United Health Care has offered the more comprehensive coverage on the 3 year plans, they have also had some sizable rate increases. If you have one of the UHC 3 year plans and would like to review your options, please let us know.

Don't forget the valuable discounts with your FACT Membership through the United Health Care plans.
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Oscar announces plans to build upon its Culturally Competent Care Program. This enables "members with diverse values, beliefs, and behaviors" to access Culturally Competent providers and can deliver care that meets their needs.

If you are new to Oscar, don't forget to set up your online account.

Don't forgot, with Oscar you have $0 Fee Virtual Urgent Care Visits. Click Here to Learn More.
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3600 1st ave NE, Cedar Rapids, IA 52402.(800) 383-6590

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