Be prepared, starting for some employer groups with 51+ employees, you will start seeing your rates go up this year because of the health care law. If your plan cycle extends into 2014 your rates for the months of 2014 in this plan year cycle will be prorated and dispersed over 12 months, some of which will be in 2013. If your plan starts January 1, 2014 the new tax will start then. If you are part of a small group employer sponsored plan or are on an individual plan, look for your rates to increase starting January 1, 2014. The two new taxes will combine to raise about $20 billion for the first year and 19.3 for the second year and so on. These taxes will be embedded in your health premiums. You will not see the exact dollar amount you are paying for these two taxes. The first tax is called the Health Insurer Tax and it is meant to help fund premium subsidies for certain individuals and families purchasing health insurance from the exchanges. The second tax is called the Transitional Reinsurance Tax and it is to help stabilize premiums and cost of high-risk individuals entering the individual market in each states health exchange.
If you would like to receive a pdf of the exact rates each year for each new tax, please email us at angela@ansainsuranceservices.com and we will get you a copy. You can also reach us at 714-680-5900.
No comments:
Post a Comment