Open Enrollment is Here and YOU Can Take Control Of YOUR plan and YOUR costs for 2014! Are you a growing technology company thinking of adding a group health insurance plan soon? Did you know you can LOCK IN LOWER RATES for 2014 by acting now, before the end of November? Did you know that a start date of 12/1/13 will save you 20-50% on each employee and family member (based on age, zip code, number of family members and plan design).
YOUR "COUPON" expires the in a few weeks! LAST CALL IS NOW!
ACT NOW to take advantage of 2013 pricing
Lock in 2013 rates through 2014
Did you miss out on your "early renewal option" with your current carrier? Solutions are available to keep you on 2103 rates!
Are you confused about the Connect For Health Colorado Exchange? Do you or your group even qualify????? (Hint, most of you don't qualify for the "individual exchange")
Protect your bottom line and your costs as you hire new employees.
YOU SNOOZE, YOU LOSE this opportunity to SAVE through 2014!
A couple of items to be aware of:
1. If your average wage base is over $50,000 a year you DO NOT qualify for the Connect For Health Colorado SHOP (Small group) Marketplace or the 50% tax credit for 1/1/14. Your employees will also NOT qualify for a tax subsidy! (BTW, did you know that you have to APPLY for Medicaid/PEAK and be DENIED before you can even apply and at this point it's almost 45 days to find out which puts an enrollment into February 2014)
2. Rates across the board will go up for 1/1/14 start dates inside and outside the Connect For Health Colorado exchange for 1/1/14 at around 20-50% on average with some folks seeing up to 100% rate increase for both individuals and groups.
3. Your ability to compete with other employers may depend on offering a robust benefits package with health insurance as the key component. With the current dynamics surrounding health insurance and the individual marketplace it's crucial you do something to help out and retain employees who cannot get coverage through the Exchange (due to high wages) and may start looking at employers who are willing to provide employer subsidized health insurance.
4. If you enroll for a 12/1/13 effective date, the average 3+ employee group will SAVE thousands of dollars on the health insurance coverage....This is a DISCOUNT/COUPON your growing company cannot afford to lose so you need to get to work on this today to take advantage of the savings. Open enrollment for 12/1 ends November 20 (two companies will enroll to the end of November) and your broker is scrambling to help everyone by the deadline so call today.
Example: 4 person group with 2 single employees and 2 families enrolling in 2013 vs. 2014 Savings of around $7000 a year with 12/1/2013 rates. Same group grows to 20 employees in 2014.....the locked in rates apply throughout 2014 saving the group over $30,000 in health insurance costs just by starting with a very small group for 12/1/13
5. If you have a lower wage base and plan to keep it that way through 2014 (Startups with owners and employees taking lower salaries and stock instead just to get the company going), your options will be better inside the SHOP Exchange vs the Individual Exchange. You do NOT have to qualify for a subsidy and it's a TAX CREDIT of up to 50% of what the employer pays. The Connect For Health SHOP is for groups under 25 has PPO plans and richer benefits. You really do not want to put your employees through the indignity of having to fill out a Medicaid app and get Denied just to get a subsidy...especially if they are borderline and are only going to get $70-$150/month
5. You must work with a broker to get a group insurance quote both inside and outside the exchange. All quoting is going through a broker who has access to comparison software through one of two MGA's in Colorado. The Connect For Health Colorado Exchange is not enrolling the groups without a broker first quoting, presenting and handling the enrollment and the broker MUST be a Connect For Colorado Certified Broker.
Soloprenuers We haven't' forgotten you. If you do not qualify for the a subsidy through the exchange and are healthy please look at a 12/1/13 start date to save hundreds of dollars for 2014 Individuals may see their current plan terminated or increased 20-100% depending on the plan design, the age of the person, smoker status. One big name insurance company is being kind to enroll for 12/1 or 12/15 and "auto renew" on 12/31/13 for a full year at the 2013 rates.
Groups with current health insurance in place, we have ways of taking your group from a 20-30% renewal to a -2.0-5% renewal with unique plan design options. We are finding all kinds of ways to trim excess costs from your HR and payroll budget. Ask us how to save $5000 a year on a 10 person group on Payroll and HR!
You are invited to the Tie Rockies Lunch and Learn on November 20, 2013: 11:00am -1:00pm https://rockies.tie.org/event/46/entrepreneurial-roundtable-featuring-stacey-gilbert-and-caroline-johnson
You are invited to visit at our Executive In Residence Session at Innovation Pavilion on November 13, 2013 10am-3pm time slots.
contact [email protected] to find out more or fill out the contact form
Can't make the meetings? We'll be your traveling "EIR" just call or email today.
Call 303-471-9424 or send us an email at: http://www.denvertechinsurance.com/contact/
Can't make it to either event? Call now and we'll take care of you! We have over 15 years of experience in employee benefits and specialize in working with all aspects of coverage for technology companies and startups including health insurance, ancillary and voluntary group plans, business insurance, technology errors and omissions and cyber liability coverage. Please give us a call so we can get you a FREE assessment and quote.
