Anthem Revises Rate Filing for 2018 Individual Plan Offerings in KY

Posted by Matt Schwartz on Mon, Sep 11, 2017 @ 09:09 AM

Anthem.jpgAfter significant dialogue with state leaders and regulators, Anthem announced that they have made the difficult decision to revise their rate filing for their 2018 Individual plan offerings in Kentucky.

While some steps have been taken to address the long-term challenges all health plans serving the Individual market are facing, the Individual market remains volatile. Today, planning and pricing for ACA-compliant health plans has become increasingly difficult due to a shrinking and deteriorating individual market, as well as continual changes and uncertainty in federal operations, rules and guidance, including cost-sharing reduction subsidies and the restoration of taxes on fully insured coverage.

What This Means for Kentucky

Anthem will reduce its 2018 Individual plan offering in Kentucky and will only offer plans in the following 59 counties:

 

Adair

Daviess

Lawrence

Metcalfe

Allen

Edmonson

Lee

Monroe

Ballard

Fulton

Leslie

Muhlenberg

Barren

Graves

Letcher

Ohio

Bell

Grayson

Lewis

Owsley

Breathitt

Green

Livingston

Pike

Breckinridge

Hancock

Logan

Russell

Butler

Hardin

Lyon

Simpson

Caldwell

Harlan

Magoffin

Todd

Calloway

Hart

Marshall

Trigg

Carlisle

Henderson

Martin

Union

Christian

Hickman

McCracken

Warren

Clinton

Hopkins

McCreary

Wayne

Crittenden

Johnson

McLean

Webster

Cumberland

Knott

Meade

 

It's important to note that this decision does not affect those who have employer-based insurance, Medicaid, Medicare Supplement and Medicare Advantage health plans, or individuals enrolled in "grandfathered" plans (plans purchased before March 2010) or "grandmothered" plans (plans purchased before October 2013).

Soon, Anthem will send their Individual members an email sharing this news. Then, later this month, they'll begin mailing letters to impacted members to let them know their plan will not be available for 2018.

Anthem stand-alone plan offerings for dental, vision and life benefits will not change, and will be available to current members and new customers in 2018. Members who have stand-alone dental and/or vision benefits with Anthem will get renewal details in the fall.

Looking Ahead

Anthem states that their commitment to members has always been to provide greater access to affordable, quality healthcare, and they will continue to advocate solutions that will stabilize the market and allow them to return to a more robust presence in Kentucky in the future.

On September 6, 2017, the Kentucky Department of Insurance announced it had approved a rate hike for Anthem of 41.2 percent for Kentucky's Affordable Care Act customers next year. Read more details here.

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Topics: Affordable Care Act