| Issue: # 48 | April 14, 2010 |
*******Client Alert - Healthcare Update*******
As previously reported. two weeks ago the Massachusetts Division of Insurance (DOI) disapproved / rejected the request of the major health insurance carriers to increase rates for April, May and June. This was the first time this has ever happened. See the Boston Globe story,
Last week the insurance companies took the DOI to court to resolve the dispute. Yesterday the Suffolk Superior Court ruled in favor of the State regulators, Boston Herald Story. What's next? We are not sure, but most of the carriers have refused to release any rates until this is straigtened out. To our clients that renew in May or June and do not have rates released yet, please know that we are in contact with the carriers and waiting for news of your rates! We are as anxious as you to resume normal business operations and will keep you updated.
In addition, please note that any involuntary terminations after March 31st, 2010 are currently not eligible for the COBRA subsidy. There is, however, a vote scheduled this week to extend this beyond March 31, 2010.
As always, if you have any questions email Bill or Vanessa. We hope you find these newsletters helpful, please forward to anyone who may find this of interest. To learn more about Advantage Benefits click here. Your referrals are greatly appreciated!
Sincerely,
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