Renewal Process Changes
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We have three very exciting, "game changing" renewal announcements.
- Renewal Contracts - Beginning with October 1, 2012 effective dates, we will no longer require that clients complete a Group Application each year upon renewal. Instead, at renewal we will issue you a new Group Agreement/Policy which includes the applicable rates and benefits for the contract year.
- Small Group Renewals - Beginning with December 1, 2012 effective dates, we are implementing a more community banded approach to small group renewals (2-50 subscribers). These renewals include three components: a base factor, age/demographic changes, and medical risk changes. Starting in the December renewals, we will apply a cap of plus or minus 20% to the Medical factor. This will create smoother renewals and less dramatic changes from one year to the next. See the attached flyer for more information.
- 75 day Notice - Beginning with January 1, 2013 effective dates, we will issue both small and large group renewals 75 days prior to the effective date of the renewal instead of 60 days prior to the effective date. This means your January renewals will be released on or around October 15, 2012.
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Reminder - Benefit Changes Effective October 1, 2012
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Please review the attached flyer as a reminder of the changes we made to standard products that will be effective as of October 1, 2012.
Thank you for your continued support. We recognize that because of Health Care Reform you are doing more work now than ever before. We value our relationships with you and our mutual clients as we move forward.
Speaking of moving forward, we will announce our January 1, 2013 commission programs next week. Why announce it so early? Well, we are excited about it and feel you will be too, so why hold back good news.
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Safe Senders
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If you are not receiving emails notifying you that a new commission statement is available, please check to make sure that the email address coventrycommissions@cvty.com is in your "safe senders" list. Do not send an email to this address. Instead, call 800.438.4029 for any questions regarding commissions.
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| PPO products are underwritten by Coventry Health and Life Insurance Company and administered by Coventry Health Care of Virginia, Inc. |
