Anthem Reno Health Insurance has significantly increased their prices for the grandfathered health insurance plans here in Nevada.
Anthem Reno grandfathered Reno health insurance plans were plans that were in place prior to the date that Obamacare started on March 23, 2010. Insurance companies did not need to keep these policies in force. This was after issuing the new Obamacare plans. Although, they could keep them active as long as there weren’t any changes to the health insurance benefits. If an insurance company did not want to keep the policies in force, they could cancel the plans with 60 days notice. The majority of health insurance companies here in Nevada did just that.
If a company wanted to keep all of their grandfathered plans in place, like Anthem, they were required to keep all of the same benefits in place. Although, it did not affect the insurance company’s ability to adjust the rate. Over the last 8 years, Anthem’s monthly cost for their grandfathered plans has been very competitive. Many of our clients here at Health Benefits Associates retained their individual and family Anthem grandfathered plans. This is because they have had a very competitive monthly rate. This was compared with a new health insurance plan with similar benefits.
Today we are seeing that many of our current Anthem grandfathered policyholders are experiencing rate increases.
These rates are well above the cost for similar benefits from other health insurance companies. We have compared the rates to other companies offering individual and family health insurance plans here in Nevada. Unfortunately, Anthem is no longer offering individual health insurance plans in Nevada. This is causing grandfathered policyholders to choose new health insurance companies.
Unfortunately, the Anthem grandfathered rate increase is not a qualifying life event. This life event is normally a change in the insured member’s situation. These include marriage, having a new baby, or losing health insurance somewhere else. A rate increase is not a loss of coverage. This means it doesn’t give the insured person the “Special Enrollment Period” rights. These are only available to people experiencing a qualifying life event.
If you are experiencing a grandfathered plan rate increase, and you would like to review all of the other plan options available to Nevadan’s, please let us know. Our goal here at Health Benefits Associates is to help everyone. This includes those with an Anthem Reno grandfathered health insurance plan. We can help review and transition to a new, more affordable health insurance option. We do this in the most timely manner possible. As your health insurance broker, we can shop all available plans in Nevada and give you the most affordable choices. We do this for individuals and can also run group health insurance quotes for your business.