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California Medical Insurance Update

Alarm clockIn California, small employers had the choice in 2013 to opt for “early renewal” of their coverage at the end of 2013. This allowed small employers to keep their current, non ACA-compliant plans or policies until late 2014.

On July 7, 2014, Governor Brown signed into law SB 1446. This law permits small group employers with “early renewal” or “grandmothered” plans that were in force as of 12/31/2013, and are still in effect on 7/7/2014, to renew until 1/1/2015 and remain in force until 12/31/2015.

Health plan contracts and insurance policies renewed under SB 1446 are exempt from some ACA provisions such as rating limitations, requirements to provide essential health benefits, and affordable care act mandated limitations on out of pocket expenses & deductibles.

It is important to compare “grandmothered” plan rates and benefits with ACA-compliant plans in order to know the best plan for each small employer’s unique situation.

For information about how options for early renewal may effect you, contact us at 858-361-0735.


Permanent link to this article: http://www.cookandcookassociates.com/2014/07/08/california-medical-insurance-update/

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