There are many things still in flux. That was a large part of the message last night regarding the Affordable Care Act. Representatives from Wellmark were in Knoxville discussing the legislation and what it especially means for small business owners. Open enrollment is set to begin October 1st, and anyone who renews their insurance after January 1st may have to do so within the confines of the Affordable Care Act.
Those representatives also explained how rates will be impacted. In general terms, young, healthy groups, especially males, will see rate increases; meanwhile, older groups, especially those that aren’t as healthy, could see rate decreases. Rates for those groups will closer than they have been in the past.
User fees will also be part of the transition; Wellmark representatives say that beginning January 1st of next year, consumers with any carrier can expect a $12-$14 increase in rates per month due to those transitional fees.