Aetna has announced the implementation of a 2.71% reduction to their third quarter rates in all nineteen of their rating areas for small group customers enrolling or renewing in an Aetna Managed Choice® or Open Choice® PPO (MC/OAMC/SavingsPlus/PPO plan from July – September, 2016.
Rates are available as of June 15, 2016. Due to the timing of this rate reduction for the Aetna Managed Choice (MC) and Open Choice PPO plans, the July and August renewals will be reprocessed to reflect the reduction to the renewal rates and mailed to customers.
The rate reduction for groups renewing in July and August will be reflected on the August bill.
Groups renewing in July and August
- Because renewals for July and August have been mailed in order to ensure the 60-day notification, impacted groups renewing in this time frame will receive updated renewal packages and a letter (sent separately) outlining the rate changes. Brokers will also receive a copy of the revised renewal.
- Groups that have already submitted renewal changes to Aetna for July and August renewals do not need to send anything back to Aetna.
- Groups with a July renewal date will receive a premium credit for July and will be billed at the new rates on their August bill.
- Groups with an August renewal date will be billed at the new rates on their August bill.
- Brokers and groups will receive a letter and an updated renewal package by June 30, 2016.