Harvard Pilgrim has reached an agreement with the Massachusetts Division of Insurance (DOI) on small business and individual premiums for customers with April through December 2010 effective dates. Through the agreement, Harvard Pilgrims has decided not to retro-bill for the coverage months of April, May, June, and July. Updated rates will be effective for coverage periods beginning August 1st through the end of the customer’s plan year. Harvard Pilgrim will update rates for customers with April-August effective dates, and those customers will see increases averaging 7-11% from their interim premium that was built on a 2009 base rate. Effected customers will see adjustments either in the September or October billing cycles. Please see attached Harvard Pilgrim press release for more information.
PR-MA DOI Rate Dispute 070210
This year, important health insurance reforms were enacted effecting residents of both Massachusettand New Hampshire. The first redefined the term “dependent” as a person unmarried and under the age of 26 who either is a full time student or resident of the state. Coverage was also extended for those young adults who are unemployed or do not receive coverage through their employer, allowing them to stay on their parents’ health insurance until the age of 26. The next reform was the Children’s Health Insurance Program (CHIP) which allows workers who are eligible for health coverage from their employer but are unable to afford the premiums for their children to apply for a State-funded program which aids in the payment of employee-sponsored plans. The last reform was the Affordable Care Act. Through this act, Massachusetts and New Hampshire can allocate tax cuts to small businesses to help them provide health coverage for workers and make premiums more affordable. They also began a new Healthfirst program which requires major insurance companies to carry plans designed for businesses with less than 50 employees with their target premium being 10% of wages.
Ten Broeck Insurance Group is an insurance agency with proven professionals who are caring and conscientious – the kind of people you can depend on. We know our clients needs on a personal level and understand when you have questions, you need a person to talk to – not a recorded voice and a list of automated options. Ten Broeck Insurance Group is committed to maintaining a high standard of excellence in all that we do and seek to establish a firm relationship of mutual trust with each of our clients.