Builders Health Insurance in Northern Nevada
The Builders Association of Northern Nevada is working with Hometown Health Plan to allow construction-related businesses to join together and purchase health insurance. The BANN Association insurance plans are the result of new federal rules. The rules released in June of this year allow businesses to join together to purchase health plans with lower rates.
Association group health insurance plans are not new. Prior to the Affordable Care Act, many local Northern Nevada organizations offered discount health insurance plans to their members. Here locally, the Nevada Manufacturing Association, the Associated General Contractors, the Builders Association of Western Nevada, the Chamber of Commerce, and the Builders Association of Northern Nevada all offered association group plans. The BANN insurance options are the newest to emerge as of today.
When the Affordable Care became law, all of these association health plans ended. The Affordable Care Act required all small group health insurance plans to offer “Qualified” health insurance plans. “Qualified” health plans are required to cover 10 essential health benefits. That means they guarantee coverage for all pre-existing conditions. The plans also prohibit rates based on health conditions, and cannot charge older Americans more than three times the rate that they give to a 21- year-old.
The June 2018 federal ruling gives qualified associations the ability to modify the plans.
This includes some or all of these previous requirements in order to help reduce the monthly rate. For 2019 effective dates, Hometown Health Plan will be offering 13 different plan designs. All of these meet the Affordable Care Act requirements. The Builders health insurance Nevada plans will have at least 8 of these same general plans designs. We expect monthly rates that are 10 to 15 percent less than their comparable “Qualified” plan.
If you would like to see a no-obligation Hometown Health Plan quote for plans offered through the Builders Association of Northern Nevada, please don’t hesitate to call our office at 775-828-1216. In addition to illustrating the rates and benefits of each plan, we would like to explain the differences between the “Qualified” health insurance plans and the “Association” group plans. As your health insurance broker, we do not charge fees for our services.