Monthly Archives:July 2014

Time Insurance Files plans for South Carolina Health Exchange 2015

16 Jul , 2014,
jtdickerson
one comments

Update: Click here to view 2015 Time/Assurant plans and rates!

Big news for the South Carolina health insurance marketplace in 2015! SChealthconnector.org has recently learned that Time Insurance (also known as Assurant Health) has filed plans and rates in South Carolina for the 2015 plan year. Although we must note that nothing is yet confirmed, this is a very positive development for South Carolina residents looking for quality, affordable health insurance on the South Carolina Health Insurance Exchange.

Earlier in the month, we noticed this filing (see picture below) at the South Carolina Department of Insurance, dated June 4, 2014. As you can see, the filing indicates that Time Insurance filed a PPO plan for both ON and OFF exchange. Time INsurance 2015 South Carolina

 

Earlier this week, we were also able to confirm this filing via an unnamed source at Assurant Health. Our source indicates that Time/Assurant has filed an ON exchange plan in all counties of South Carolina. We must caution, however, that details are subject to change,  and insurers can suddenly decide to not participate in a market, as we saw with Coventry exiting Georgia and Maryland prior to the 2014 open enrollment.

Currently, South Carolina has 4 insurers participating in the Federally Facilitated health insurance marketplace for the 2014 plan year:  Bluecross of SC, Bluechoice of SC, Consumers Choice Health Plan, and Coventry. Assuming the current players participate in 2015, the addition of Time/Assurant would bring our total to 5 insurers available for South Carolina residents purchasing a plan with a subsidy or tax credit.

Currently, Assurant health offers plans OFF the health insurance marketplace, including the ONLY platinum plan in South Carolina for 2014. For plan year 2014, Time Assurant currently offers customers a choice of networks – either CIGNA or Aetna’s networks. Currently, Assurant’s network options are some of the most robust options available to South Carolina residents looking to purchase an individual health plan. Unfortunately, however, South Carolina residents cannot currently buy a 2014 plan from Time/Assurant with a tax credit, as these plans are not available on the health insurance marketplace at www.healthcare.gov. Based on today’s news, however, this may change for 2015!

As a licensed and appointed agent with Time Insurance/Assurant Health, we look forward to helping our clients evaluate this additional option for 2015! Feel free to contact us today for more information!

 

2015 Obamacare Rates

9 Jul , 2014,
jtdickerson
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Interested in seeing a high level view of 2015 Obamacare rates and changes? This map from Price Waterhouse Cooper has a very concise, detailed summary of rate increases/decreases, number of issuers & number of new plan bids, along with additional information. Unfortunately, information from South Carolina is not yet available, but check back often for the latest South Carolina Obamacare information and updates on the Affordable Care Act!

Per pwc.com “Publicly released premium increases across about 18 states states vary widely, ranging from a low of -23% in Arizona to a high of 35% in Colorado and Indiana. The average rate increase across states reporting data is 7.22%, while the average monthly premium (without subsidies) is around $373.*”

Source: http://www.pwc.com/us/en/health-industries/health-research-institute/aca-state-exchanges.jhtml