Sept. 25, 2019

Offering a First-year Renewal Rate Cap on New Mid-market Business

Applies to: Mid-market Groups (51-150)

It’s no secret – groups are looking for ways to keep their health care expenses low and predictable. We can help deliver on that goal. Now, when you sell new mid-market groups with effective dates between Dec. 1, 2019, and March 15, 2020, we’ll give them a first-year renewal cap of 9.5%.

Who Is Eligible?

• Fully insured mid-market groups on standard plans with the specified effective dates and at least 50 enrolled employees.
  
  • Mid-market means groups with more than 50 total employees on business days in the previous calendar year, and 150 or fewer enrolled employees.
     
    
• The renewal rate cap does not apply to ACA/small groups. If a mid-market account falls below 50 enrolled employees and must certify at renewal as an ACA/small group, the renewal rate cap will not apply.

Are There Any Exceptions? What About Affordable Care Act (ACA) Fees or Group Experience?

• ACA taxes and fees are already included in our 2020 rates and will not affect the first-year renewal rate cap.
   
• Group experience changes will not affect the 9.5% first-year renewal rate cap.

That’s right! New mid-market groups with the specified effective dates and enrollment can budget for no more than a 9.5% increase on their first renewal with us – regardless of claims experience or medical status. This is our commitment to new mid-market business.

How Do I Sign My Group Up?
It’s easy. All you need to do is write new mid-market business with the specified effective dates and enrollment. There are no extra forms to complete or questions to answer. Just do what you do best: Write the business – we’ll do the rest!

Let’s Talk About It
Please call your sales executive or general agent if you have any questions. You won’t want to miss out on this opportunity for your clients.