HealthCare FAQ’s for Group Plans
What’s a grandfathered plan?
A Group Health insurance plan that was in place before the law was passed on March 23, 2010 and has not made certain changes to co- insurance, co-payments, deductibles, and/or contributions to your employees.
Is there an employer mandate and what has changed?
The way the law was written, the employer mandate only applies to groups of more than 50 employer. The tax penalty for not providing insurance to groups over 50 has been pushed back 1 year. Groups are not required by law, at this time, to provide health insurance but every American is required to have a Qualified Health Plan or pay the tax. By providing a qualified group plan, neither you nor your employees are subject to the tax.
Have waiting periods on our group plan changed?
Under the new ACA employers can no longer have a waiting period of more than 90 days. To achieve this, many employers will need to have a waiting period that is 1st of the month following 60 days. If you have questions, please call our office at 918.451.9783. This applies to grandfathered and non-grandfathered plans.
Should I change my group plan to have a 12/1/13 renewal date?
If this is an option with your current plan then it is advisable, in most cases, to do a 12/1/13 renewal date change. Please call our office to find out if this is an option and how to get this done in time.
I’ve heard some companies are considering dropping their group coverage and sending their employees to the exchanges. Is this advisable?
We understand that every company is unique. At Derby Insurance Solutions we can help you make an informed decision. In most cases it’s not advisable to cancel your group plan and have you and your employee go to the marketplace exchanges. The main reason is, as of this date, the government website that calculates the subsidies is not working properly. So if you cancel right now you may have a gap in coverage since it is uncertain when the government website will be working. If you are not happy with your group plan, we will help you brainstorm your best option. Either way, Derby Insurance Solutions can help with your group plan or enrolling your employees and you in an individual federal marketplace health plan.
If I offer a group plan can my employees go to the individual exchange and receive a subsidy?
If an employer offers “affordable coverage” as defined by the Affordable Care Act then the employee and his/her dependents are not eligible for a subsidy. They can purchase a plan on the individual marketplace exchange, but even if they could qualify for a subsidy, they will not be eligible to receive one.
Can I keep my doctor?
The insurance companies we work with have great networks and you will probably not see many changes. We are not anticipating many people in Oklahoma losing their doctors. If you are concerned or want to double check, please call us, Derby Insurance Solutions at 918.451.9783.
Have the rates gone up?
Many years the rates have gone up somewhat. Although Oklahoma had a rate increase, the rates came in a lot lower than we expected.
Need Help Finding a HealthCare Insurance Plan?
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A Family Business Devoted to Protecting Your Family!
Our passions is to educate people so that they can make informed decisions as to their insurance and financial planning needs. To reach this goal we have made several resources available online for you to use. Besides our online articles, Derby Insurance Solutions also hosts regular events to educate our clients on their insurance and financial needs. Click on the links below for more information.
Love the Derby team! They've been helping me with my health insurance questions and they've made me feel like family. Some businesses you trust and stick with knowing they have your back. The Derby's are those guys for me.
I can't say enough good things about Derby Insurance, and specifically Katie who has gone to bat for us each time we have had a problem with BCBS, most recently with another Out-of-network issue. We deeply appreciate her expertise when it comes to asking the right questions and getting to the right people to take care of our concerns. We couldn't have done it without her and we would recommend Derby Insurance Solutions wholeheartedly for your insurance needs, whatever they may be.
Our insurance situation was unusual and required a lot of research and some tough decisions. We were overwhelmed with information and running out of time when we called Derby. Katie was amazing! She answered our endless questions and calmed our fears throughout the enrollment process. Bob was a big help as well. The plan we ended up choosing has been perfect for us. Thank you Derby Insurance Solutions!
Bob has been my agent since 2005. He and his team have always been very responsive and have helped me find the health insurance plan that provides me with the coverage I need at the lowest possible price. I appreciate their help in navigating this confusing area of insurance coverage.
I trust Derby Insurance Solutions for me and my family and highly recommend them. They are friendly, happy to assist in finding the right policy and have many options!
Bob is a man of integrity. He has taken care of my families needs and that of every client I send his way. Great family owned business!!
Bob has been our agent for over 14 years. He is very knowledgeable about health insurance. Bob is great. Always has a great plan of action for our insurance needs.