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We received notification of a Health Net of California July 1st rate increase for Individual and Family health plans. We had anticipated no rate increase based on communication from the carrier through the end [link widoczny dla zalogowanych] of 2013 but this puts Health Net in line with both Cross and Shield which increased their rates early in the year. Let's take a look at what [link widoczny dla zalogowanych] to expect and how to navigate the newest health insurance increase to the California market.

What type of increase are we looking at from Health Net?

The actual percentage [link widoczny dla zalogowanych] of increase depends on your age, plan, and area. Members can expect an increase from 9-25% with an average of around 15%. The good news is that the original rates for their most popular plans like the Advantage $3500 or $6500 plans were so much lower than the other competing plans on the [link widoczny dla zalogowanych] market, even with this [link widoczny dla zalogowanych] high percentage increase, it will probably [link widoczny dla zalogowanych] still be tough to beat their rates currently on [link widoczny dla zalogowanych] the market. Keep in mind that most of these plans and rates will go away Jan 1st 2014 (or on your anniversary month) anyway but it's definitely a look at our future in terms of rates if you do not qualify for health subsidies.

What are your options if you are a [link widoczny dla zalogowanych] Health Net member?

If you're an existing member, you can look to downgrade your coverage or compare/contrast other options on the market (Quote Here). Anthem's Clear Protection $3300 plan has been the closest competitor to the Health Net Advantage plans and there are situations (age, area, etc) where it can be more cost beneficial as an option, especially in light of the July rate change. We don't expect (cross fingers) any more rate increases for Cross and Shield through the end of year since they already had theirs Feb and March of this year. To change to a new carrier, we would need to be in good health. To make a pure downgrade within Health Net, we may be able to request this by writing depending on the plans involved.

New applicants and the July Health Net rate increase

If you're looking to purchase a new California health plan [link widoczny dla zalogowanych] from Health Net, the period leading up to July 1st could be an ideal time. If your effective date is prior to July 1st, you will be able to lock in the old rates for a 6 month rate guarantee window which essentially takes us to the Jan 1st 2014 Health Reform change over. We expect many people will change [link widoczny dla zalogowanych] plans/carriers December of [link widoczny dla zalogowanych] 2013 to delay having to move to Exchange plans till Dec 2014 unless they qualify for a California health subsidy based on income levels. Keep in mind that the processing of a new application can take 7-10 business days so you want to decide and apply in advance of the change over so you're not caught with the new higher rates.

Which Health Net plans make the most sense

Currently, the Advantage $3500 and $6500 plans are by far the most popular plans on the market. They are generally the lowest priced plans on the market and still offer good catastrophic health coverage with a few copays, 100% preventative, and generic RX copays. Again, since [link widoczny dla zalogowanych] this is a short-term consideration for at most 12 months, it makes sense to go down the pricing scale which tends to be a [link widoczny dla zalogowanych] good strategy these days anyway considering all the rate increase. You can quote all the available plans including Health Net at [link widoczny dla zalogowanych]

Dennis Jarvis is a licensed California health insurance agent with extensive knowledge of the Individual California health market. More info: July 2013 Health Net California Rate Increase

Dennis Jarvis is a licensed California health insurance agent with extensive knowledge of the Individual [link widoczny dla zalogowanych] and Small [link widoczny dla zalogowanych] Group California health insurance market.