90 health plans approved for next year's Exchange - find one in your area

Health plans and their rates for next year's Exchange, Washington Healthplanfinder were approved by our office and certified by the Exchange board this week.

Consumers shopping inside the Exchange will have 10 companies and 90 plans to choose from, depending on where they live. Not all plans are available in every county, but most people will have more choices and minimal rate changes.

Additional insurers and plans for sale outside of the Exchange are still under review. There may be more plans for sale outside of the Exchange, but premium subsidies are not available.

Open enrollment for inside and outside of the Exchange starts Nov. 15 and runs through Feb. 15, 2015.

Check out the map below to see the 2015 plans and rates available in your county.

ACA’s 80/20 rule saves consumers money

Created through the Affordable Care Act law, the 80/20 rule, also known as the Medical Loss Ratio (MLR) rule, requires health insurers to spend at least 80 percent of premium money on patient care and quality improvement activities or pay a rebate back to consumers.

This month, the U.S. Department of Health and Human Services reported that since the rule took effect, more insurers year over year are meeting the 80/20 standard by spending more of the premium dollars they collect on patient care and quality, and not red tape and bonuses. If an insurer did not spend enough premium dollars on patient care and quality improvement, they must pay refunds to consumers in one of the following ways:

• A refund check in the mail.
• A lump-sum reimbursement to the same account that was used to pay the premium.
• A reduction in future premiums.

If the consumer bought insurance through their employer, their employer must provide one of the above options, or apply the refund in another manner that benefits its employees, such as more generous benefits.

In 2013, 9,605 Washington consumers received refunds totaling $792,846, an average of $122 per family.

Read more about health care reform on our website. Questions? Contact our consumer advocates online or at 1-800-562-6900.

Temporary special enrollment for those stuck in Exchange plans begins today

A temporary special enrollment period begins today for those consumers who have experienced difficulties with enrollment in health plans on the Washington Healthplanfinder. 

Insurance Commissioner Mike Kreidler authorized the special enrollment period this week as another option to those who feel they might need more help. This voluntary special enrollment period starts Aug. 27 and runs through Nov. 14, 2014. Only people who attest to having enrollment, billing, or payment issues with an Exchange plan may change plans during this time.

If you’re considering this option, you should be aware of all of the details involved, including the fact that you could lose a current premium subsidy. Special enrollment may not be the best choice for everyone. But as the commissioner notes, “Hopefully, it will bring relief to some.”

 A list of answers to questions about this temporary special enrollment is available on our website.

Talk to your agent or broker about coverage for college students

Many college students are heading back to college or starting their college careers this time of year. In addition to outfitting students with laptops and dorm room supplies, parents may want to think about whether their students are covered by the right insurance policies. 

Insuring possessions

For students who live in a dorm, typically the parents’ homeowner policy will cover the student’s personal belongings while they are away. The same is true for college students who live at home. Some policies may have a dollar limit for off-premises personal property, so check with your agent or broker to find out what your policy covers.

If the student is renting an apartment or house, it’s worth looking into renter’s insurance. If you have a roommate, read our blog post, Living with someone? You may need your own policy to protect your belongings.

Auto insurance

Auto insurance policies typically don’t change once a driver goes to college, but it can’t hurt to check with your agent or broker if the car will be driven in another state for an extended period of time or, conversely, if the car will stay home while the student is in school and isn’t likely to be driven. You can also ask about any discounts they may have available for good grades or good driving records.

Health insurance

Under the Affordable Care Act, parents can keep children on their health insurance policies until age 26. Read more about health insurance for families.

OIC seeks Senior Financial Analyst to monitor companies

We are hiring a Senior Financial Analyst (Financial Examiner 4) in our Tumwater office to help us monitor the financial health of insurance companies. This position is in our Company Supervision divison and is responsible for monitoring the financial condition of insurers and other entities and taking timely action to help these organizations' financial health so they can fulfill their obligations to consumers. This position also supervises three financial examiners and fills in as acting Chief Financial Analyst, when necessary.

This position is open until filled. Read more or apply at careers.wa.gov.

Cost of raising children may factor into life insurance decisions

This week, the U.S. Department of Agriculture reported that a child born in 2013 will cost $245,340 to raise to the age of 18. That does not include the cost of a college education, or any other expenses if the child lives at home after age 17. The largest expense of raising a child is housing, followed by child care, education and food.

What, you ask, does the cost of raising children have to do with insurance? If you have children under the age of 18 and you are considering purchasing or modifying a life insurance policy for yourself or your spouse, the cost of raising and educating children is one factor you may want to weigh. When you purchase life insurance, you should consider expenses your family will need to pay for when you are gone and how the loss of your salary will affect their ability to do that. We recommend you talk to your financial planner, insurance agent or broker when you are making decisions about life insurance. You can also read more about life insurance on our website.

Are you curious about how much you may spend on raising your child? The USDA has a Cost of Raising a Child Calculator.

Kids' vision screening is an essential benefit under ACA

August is National Children’s Eye Health and Safety Month, which is a good reminder for parents and caregivers to schedule a vision screening before or near the start of the school year.

“Vision screening is vitally important for children,” said Insurance Commissioner Mike Kreidler, who is a doctor of optometry and practiced in Olympia for 20 years. “Undiagnosed vision problems can disrupt a child’s learning for years and set them back academically and socially.” 

Very young children and children with special needs often have difficulty participating in an eye exam, and often those involved in a child’s care are the first to notice warning signs of an eye problem. 

Insurance plans may require a referral from your child’s primary care provider or pediatrician prior to scheduling a visit with an eye care provider. However, pediatric vision services are among the essential health benefits under the Affordable Care Act, which are the services that all individual and small employer health plans must include.

If your child does not have insurance for eye exams or for prescription eyeglasses, assistance programs such as EyeCare America, InfantSEE and Prevent Blindness may be able to help.

Washington consumers who don’t have health insurance for their children should contact Washington Healthplanfinder to find out if they qualify for Apple Health, our state’s Medicaid program.

If you are the parent of a special needs child ages birth to age 3, contact Early Support for Infants and Toddlers through the state Department of Early Learning.

Read more about how health insurance has changed for individuals and families. If you have questions about insurance in Washington state, contact our consumer advocates online or by phone at 1-800-562-6900.

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