Important Update For Anthem Individual Policy Holders and Covered California, Rate increase

 

Dear Clients,

Unfortunately, Anthem will be leaving California in the individual market (under 65) in 2018 with the exception of Northern California areas (Redding and far north, Santa Clara County and Stockton/Modesto). This means that if you currently have an Anthem individual or family plan your coverage will be ending 12/31/2017 and we will need to get you on a new plan for 2018. Open enrollment should start November 1, so we will contact our Anthem clients in the coming months about setting up a time to help you make this transition. Nothing will change in your coverage for the rest of 2017. This will not affect you if you have Medicare, dental, vision, or small group policies with Anthem. This will only affect individual and family plans. 

Covered California issued a press release today citing a general increase of 12.5% in rates. However, due to the overall uncertainty at a national level with the CSR (cost-sharing reduction), Covered California may need to add an additional 12.4% surcharge on all Silver plans.

Furthermore, Blue Shield had a conference call with California brokers this week and Blue Shield will be offering coverage, although they site an 18% price increase for PPOs,  due to the high cost of drugs and hospitalizations.

We know that this news is difficult to accept.  Please be assured that we at TWP Financial will do everything we can to help you through this process.

All Our Best, 

TWP Financial