Urgent Information for Anthem & Optima Individual Plan Holders…

Urgent Information for all individuals that are currently enrolled in an Individual Health Insurance Plan in the state of Virginia:

As most of you are aware, Anthem will pull out of the individual market beginning January 1, 2018. Coverage will terminate for all currently enrolled members whether on or off the Marketplace on Dec. 31st. (Please note, this does NOT include those with Grandfathered Plans)

As of today, Optima Health has announced that they will continue to serve the Hampton Roads area, and a few other locations throughout the state of Virginia for 2018. Due to national and regional insurance carriers dropping out of this market, coupled with the uncertainty in Washington DC, there will be SIGNIFICANT rate increases. Please note that two thirds of the insured receive a subsidy and most get cost share reductions, so the Federal Government’s increased subsidy will reduce the increase. Those who receive no assistance will absorb 100% of the increase.

The Colony Group will NOT have access to start discussing individual rates until the End of October, as the Bureau of Insurance will have to approve the rates that were submitted yesterday.

Optima Health and Anthem will continue to operate in the Group and Medicare and Medicaid markets. For those of you currently own a small business, or work for one who does not offer group coverage, this is the time to explore these option! Rates are now available for Jan 1st coverage effective dates. We would be glad to talk with you to see if this is the right decision for you going forward.

Robin D. Haas
Managing Partner
Colony Health and Benefit Solutions

Amanda H. Banner
Life and Health Insurance Advisor
Colony Health and Benefit Solutions