With 2014 rapidly approaching, Business Benefits Insurance Solutions is ready to assist your firm in navigating the significant pricing and medical plan changes resulting from the Affordable Care Act.
Many small employers (less than 51 employees) are currently taking advantage of a window of opportunity to lock in fourth quarter 2103 rates and plan designs through November 30, 2014 by changing their plan effective date to December 1, 2013. In some cases, by renewing early and accepting a comparatively nominal increase, employers have avoided projected Affordable Care Act Community Rating increases of more than 100%.
In addition to providing respite from projected doubling of premiums, changing the plan effective date allows employers to continue to evaluate ACA options throughout 2014.
Employers should not delay evaluating changing their Plan Effective Date as some insurance carriers are requiring immediate action.